Fortinet Unusual Options Activity For October 12
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been observed in Fortinet's (NASDAQ:FTNT) options activity, with 81% of investors opening trades with bearish expectations. Whales have been targeting a price range from $55.0 to $65.0 for Fortinet over the last 3 months. The price of FTNT is down -1.64% at $58.0. Several experts have downgraded their actions on Fortinet, with price targets ranging from $68 to $90.
October 12, 2023 | 8:46 pm
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NEGATIVE IMPACT
Bearish stance observed in Fortinet's options activity. Several experts have downgraded their actions on Fortinet.
The bearish stance in Fortinet's options activity, coupled with the downgrades from experts, indicates a potential negative impact on the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100