FTNT options flow: unusual options activity in Fortinet, Inc.
Updated 28 September 2026, 09:54 ET
Over the last week the tape recorded 93 unusual options prints in Fortinet, Inc. (FTNT), $8.9M of tracked premium, leaning bullish. Bullish premium was $4.8M against $2.8M bearish; $5.8M went into calls and $3.1M into puts, a put call ratio of 0.53. The largest print was $1.2M of FTNT 21 Jan 2028 $220 puts on 24 September 2026, swept below bid. The last session with prints, 25 September 2026, added 12 prints and $1.4M of premium. FTNT closed at $173.46 on 25 September 2026, down 2.9%.
This week's unusual flow
Prints from 21 September 2026 to 25 September 2026, 5 sessions. Delayed tier: every print is shown twenty minutes after it executed, and the page is rebuilt after each session.
Net premium is bullish minus bearish premium. The put call ratio is put premium divided by call premium, weighted by money rather than by contract count. Sweeps is the share of prints executed across several exchanges at once. Read the guide: Reading the Pulse.
Largest prints of the week
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 24 Sep 2026 | FTNT 21 Jan 2028 $220 puts | Sweep | 191 | 59 | $1.2M | Below bid | Bullish | Whale |
| 23 Sep 2026 | FTNT 19 Jan 2029 $200 calls | Sweep | 177 | 0 | $1.0M | At ask | Bullish | Whale |
| 24 Sep 2026 | FTNT 21 Jan 2028 $230 calls | Sweep | 188 | 94 | $600K | At bid | Bearish | Whale |
| 25 Sep 2026 | FTNT 21 Jan 2028 $175 calls | Sweep | 100 | 89 | $484K | At ask | Neutral | High conviction |
| 24 Sep 2026 | FTNT 18 Dec 2026 $185 puts | Sweep | 199 | 31 | $414K | At bid | Bullish | High conviction |
| 21 Sep 2026 | FTNT 20 Nov 2026 $150 puts | Trade | 500 | 2,106 | $278K | At bid | Bullish | |
| 25 Sep 2026 | FTNT 21 Jan 2028 $175 calls | Trade | 50 | 89 | $232K | At bid | Bearish | Notable |
| 23 Sep 2026 | FTNT 19 Mar 2027 $220 calls | Trade | 145 | 1,242 | $199K | At ask | Bullish | Notable |
| 24 Sep 2026 | FTNT 19 Mar 2027 $230 calls | Trade | 126 | 844 | $161K | At ask | Bullish | |
| 25 Sep 2026 | FTNT 16 Oct 2026 $185 calls | Sweep | 485 | 1,763 | $160K | At ask | Bullish | High conviction |
| 24 Sep 2026 | FTNT 20 Nov 2026 $150 puts | Trade | 350 | 1,961 | $152K | At bid | Neutral | |
| 24 Sep 2026 | FTNT 21 Jan 2028 $220 puts | Sweep | 23 | 59 | $144K | At ask | Bearish | Notable |
Size above open interest means the trade opened a position larger than everything that existed in the contract the night before. Above ask and below bid are the most aggressive executions. Read the guide: Size versus open interest.
Where the money is aimed
| Expiry | Prints | Premium | Calls share | Net premium |
|---|---|---|---|---|
| 21 Jan 2028 | 16 | $3.2M | 54% | +$138K |
| 19 Jan 2029 | 2 | $1.1M | 100% | +$1.1M |
| 16 Oct 2026 | 20 | $1.0M | 93% | -$173K |
| 19 Mar 2027 | 11 | $804K | 58% | +$364K |
| 20 Nov 2026 | 12 | $783K | 41% | +$470K |
| 18 Dec 2026 | 8 | $772K | 32% | +$332K |
The most premium, $3.2M, is aimed at the 21 Jan 2028 expiry; the nearest expiry with unusual prints is 16 Oct 2026.
A print in a contract expiring this week is a view about the next few days, often about a known event; a print months out is a different kind of statement. Read the guide: 0DTE options flow.
The last session, 25 September 2026
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 25 Sep 2026 | FTNT 21 Jan 2028 $175 calls | Sweep | 100 | 89 | $484K | At ask | Neutral | High conviction |
| 25 Sep 2026 | FTNT 21 Jan 2028 $175 calls | Trade | 50 | 89 | $232K | At bid | Bearish | Notable |
| 25 Sep 2026 | FTNT 16 Oct 2026 $185 calls | Sweep | 485 | 1,763 | $160K | At ask | Bullish | High conviction |
| 25 Sep 2026 | FTNT 16 Oct 2026 $157.50 calls | Sweep | 67 | 23 | $141K | At bid | Bearish | High conviction |
| 25 Sep 2026 | FTNT 15 Jan 2027 $70 calls | Trade | 10 | 308 | $105K | At bid | Bearish |
Every print in FTNT with its full detail, the live tape, one tap filters and saved screeners: open FTNT in Options Sentiment Screener.
Price
The live quote and the price chart sit beside the ticker's flow in the app: open FTNT in Options Sentiment Screener.
Analysts
The most recent analyst targets on file, from 23 firms, have a median of $165, 4.9% below the last close. The last 90 days brought 1 upgrade and 1 downgrade.
Calls bought at a strike above the average target are a bet that the analysts are too cautious; puts far below the price in a name they like are protection or a strong disagreement. Read the guide: Reading one ticker's flow.
About Fortinet, Inc.
- Exchange
- Nasdaq
- Sector
- Information Technology
- Industry
- Computer Hardware
- Headquarters
- Wilmington, California
- Website
- fortinet.com
Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions. Fortinet also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices.
In the same sector
Flow pages for other Information Technology names in the S&P 500:
NVDA NVIDIA Corp.AAPL Apple Inc.MSFT Microsoft Corp.AVGO Broadcom Inc.MU Micron Technology Inc.AMD Advanced Micro Devices Inc.INTC Intel Corp.PLTR Palantir Technologies Inc.
Learn
- What unusual options activity means
- Reading one ticker's flow
- Sweeps, blocks and where a trade printed
- Size versus open interest
- Bullish or bearish, how a print's sentiment is inferred
- The conviction score and whale prints
The live tape for FTNT with every print's execution detail, one tap filters for calls, puts, sweeps and 0DTE, saved screeners and, for Realtime subscribers, push alerts and no delay. The same screen is in the iOS and Android apps.
Open FTNT in Options Sentiment Screener