Unpacking the Latest Options Trading Trends in Fortinet
Portfolio Pulse from Benzinga Insights
Recent options trading activity in Fortinet (NASDAQ:FTNT) has shown a bearish trend among big-money investors, with a split sentiment of 47% bullish and 52% bearish. Benzinga's options scanner identified 17 unusual options trades, with a focus on a price band between $25.0 and $75.0. The trading activity includes both puts and calls, with significant trades highlighted in the article. Fortinet, a cybersecurity vendor, is currently trading at $66.41, with a neutral RSI and an anticipated earnings release imminent.
February 06, 2024 | 7:00 pm
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Fortinet has seen significant options trading activity, indicating a bearish trend among big-money investors. The stock is currently trading at $66.41, with neutral RSI readings and an earnings release expected imminently.
The bearish trend in options trading, especially with the anticipation of an earnings release, suggests that investors are expecting a negative outcome or are hedging against potential downside risk. The significant trading activity and the current neutral RSI position further support the potential for short-term price movement. Given the detailed trading activity and the imminent earnings release, the analysis leans towards a negative short-term impact on FTNT's stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100