3FTNT : Decoding Fortinet's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish 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 this is an institution or just a wealthy individual, we don’t know. But when something this big happens with FTNT, it often means somebody knows something is about to happen.

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

This isn’t normal.

The overall sentiment of these big-money traders is split between 64% bullish and 29%, bearish.

Out of all of the options we uncovered, 16 are puts, for a total amount of $1,146,741, and there was 1 call, for a total amount of $46,125.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $80.0 and $92.5 for Fortinet, spanning the last three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Fortinet’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Fortinet’s substantial trades, within a strike price spectrum from $80.0 to $92.5 over the preceding 30 days.

Fortinet Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
FTNT	PUT	SWEEP	BULLISH	09/19/25	$8.8	$8.75	$8.75	$90.00	$182.8K	2.4K	1.1K
FTNT	PUT	SWEEP	BULLISH	09/19/25	$8.85	$8.8	$8.8	$90.00	$116.1K	2.4K	944
FTNT	PUT	SWEEP	BULLISH	09/19/25	$9.2	$8.9	$8.9	$90.00	$110.3K	2.4K	66
FTNT	PUT	SWEEP	BULLISH	09/19/25	$9.2	$8.85	$8.9	$90.00	$103.7K	2.4K	307
FTNT	PUT	SWEEP	BULLISH	09/19/25	$9.9	$8.85	$8.85	$90.00	$87.6K	2.4K	553

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 2,673,296, the price of FTNT is down -7.78% at $90.44.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 34 days.

What The Experts Say On Fortinet

In the last month, 3 experts released ratings on this stock with an average target price of $112.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
* Maintaining their stance, an analyst from Jefferies continues to hold a Hold rating for Fortinet, targeting a price of $105.
* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Fortinet with a target price of $123.
* In a cautious move, an analyst from Stephens & Co. downgraded its rating to Equal-Weight, setting a price target of $108.

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.