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 35% bullish and 47%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $694,282, and 13 are calls, for a total amount of $663,519.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $130.0 for Fortinet over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Fortinet's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Fortinet's whale trades within a strike price range from $55.0 to $130.0 in the last 30 days.
Fortinet Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FTNT | PUT | TRADE | BULLISH | 03/21/25 | $10.9 | $10.3 | $10.46 | $120.00 | $549.1K | 0 | 525 |
| FTNT | CALL | SWEEP | BULLISH | 06/20/25 | $16.8 | $15.95 | $16.8 | $100.00 | $146.1K | 2.0K | 109 |
| FTNT | PUT | TRADE | BEARISH | 03/21/25 | $10.3 | $9.9 | $10.25 | $120.00 | $89.1K | 0 | 612 |
| FTNT | CALL | TRADE | BULLISH | 06/20/25 | $16.8 | $16.7 | $16.8 | $100.00 | $84.0K | 2.0K | 180 |
| FTNT | CALL | TRADE | BULLISH | 03/21/25 | $8.0 | $7.65 | $8.0 | $105.00 | $80.0K | 744 | 9 |
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 2,709,469, the FTNT's price is up by 2.87%, now at $110.75.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 80 days.
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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.
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