Smart Money Is Betting Big In FTNT Options

Whales with a lot of money to spend have taken a noticeably bullish stance on Fortinet.

Looking at options history for Fortinet FTNT we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $84,218 and 6, calls, for a total amount of $936,230.

Get Started

Earn 7.2% — No Matter What the Fed Does

Markets expect rate cuts — but your earnings don’t have to suffer. Lock in 7.2% until 2028 from ten individual bonds.

Get Started

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 $97.5 and $140.0 for Fortinet, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $97.5 to $140.0 in the last 30 days.

Fortinet Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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 800,000 customers across the world.

After a thorough review of the options trading surrounding Fortinet, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Fortinet Standing Right Now?

• Currently trading with a volume of 2,955,154, the FTNT's price is down by -1.66%, now at $103.05.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 76 days.

What The Experts Say On Fortinet

5 market experts have recently issued ratings for this stock, with a consensus target price of $107.2.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Roth Capital downgraded its action to Neutral with a price target of $103. * An analyst from Baird has decided to maintain their Neutral rating on Fortinet, which currently sits at a price target of $108. * An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Fortinet, which currently sits at a price target of $115. * An analyst from Stifel persists with their Hold rating on Fortinet, maintaining a target price of $95. * An analyst from Keybanc has decided to maintain their Overweight rating on Fortinet, which currently sits at a price target of $115.

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.