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Hawk’s Nest

CyberSecurity Name Sees Opening Put Sales into Lows

by | Aug 30, 2022

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.