Financial giants have made a conspicuous bullish move on Fortinet. Our analysis of options history for Fortinet FTNT revealed 8 unusual trades.
Delving into the details, we found 62% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $345,845, and 2 were calls, valued at $75,781.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $80.0 for Fortinet over the recent three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Fortinet's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Fortinet's significant trades, within a strike price range of $45.0 to $80.0, over the past month.
Fortinet Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FTNT | PUT | SWEEP | BEARISH | 01/17/25 | $65.00 | $94.0K | 2.3K | 1 |
| FTNT | PUT | SWEEP | BULLISH | 01/17/25 | $45.00 | $78.5K | 5.1K | 316 |
| FTNT | PUT | SWEEP | BULLISH | 01/12/24 | $62.00 | $68.7K | 2.1K | 1.4K |
| FTNT | PUT | TRADE | BULLISH | 01/17/25 | $55.00 | $46.7K | 3.2K | 90 |
| FTNT | CALL | TRADE | BULLISH | 01/17/25 | $80.00 | $38.7K | 2.2K | 93 |
About Fortinet
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
Having examined the options trading patterns of Fortinet, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Fortinet
- With a trading volume of 1,023,635, the price of FTNT is up by 1.03%, reaching $62.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 26 days from now.
What The Experts Say On Fortinet
2 market experts have recently issued ratings for this stock, with a consensus target price of $63.5.
- An analyst from Citigroup downgraded its action to Neutral with a price target of $62.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Fortinet with a target price of $65.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Fortinet, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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