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Fortinet put volume heavy and directionally bearish

Bearish flow noted in Fortinet with 2,087 puts trading, or 1.5x expected. Most active are Oct-24 55 puts and Jul-24 55 puts, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 1.83, while ATM IV is up over 2 points on the day. Earnings are expected on August 1st.

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