High-rolling investors have positioned themselves bearish on Fortinet FTNT, and it’s important for retail traders to take note.
This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in FTNT often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 8 options trades for Fortinet. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $39,000, and 7 calls, totaling $274,282.
What’s The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $110.0 for Fortinet during the past quarter.
Volume & Open Interest Trends
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 $50.0 to $110.0 in the last 30 days.
Fortinet Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FTNT | CALL | SWEEP | BEARISH | 05/16/25 | $5.5 | $5.3 | $5.42 | $105.00 | $66.9K | 533 | 151 |
| FTNT | CALL | SWEEP | BEARISH | 04/17/25 | $1.5 | $1.49 | $1.5 | $105.00 | $44.7K | 1.7K | 199 |
| FTNT | CALL | SWEEP | BEARISH | 04/17/25 | $4.2 | $4.05 | $4.05 | $100.00 | $40.5K | 1.4K | 5 |
| FTNT | PUT | SWEEP | BULLISH | 09/19/25 | $15.1 | $15.0 | $15.0 | $110.00 | $39.0K | 963 | 26 |
| FTNT | CALL | SWEEP | BEARISH | 04/11/25 | $16.95 | $16.85 | $16.9 | $85.00 | $33.8K | 0 | 20 |
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.
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
Fortinet’s Current Market Status
- With a volume of 2,996,808, the price of FTNT is down -1.06% at $101.01.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 36 days.
What Analysts Are Saying About Fortinet
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $123.0.
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.
* Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Fortinet, targeting a price of $123.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Fortinet with Benzinga Pro for real-time alerts.
Momentum92.95
Growth77.41
Quality–
Value5.89
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