CyberSecurity Name Sees Opening Put Sales into Lows
Fortinet (FTNT) with 1200 January $44 puts sold to open for $3 into lows today as the name retests the 48 level which it bounced from in mid May. One of the more quality security stocks and quite oversold into a key zone seeing willing buyers at 44 which would make the breakeven on the trade near $41 after taking in that $3 credit for selling the puts. An effective strategy if looking to get long into recent weakness.