Unpacking the Latest Options Trading Trends in Fortinet

Investors with a lot of money to spend have taken a bearish stance on Fortinet FTNT.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FTNT, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Fortinet.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 52%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $514,642, and 7 are calls, for a total amount of $499,836.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $75.0 for Fortinet, spanning the last three months.

Insights into 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 $25.0 to $75.0, over the past month.

Fortinet Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

Fortinet's Current Market Status

• Currently trading with a volume of 7,027,594, the FTNT's price is up by 0.48%, now at $66.41.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 0 days.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Fortinet options trades with real-time alerts from Benzinga Pro.