Bearish flow noted in Fortinet (FTNT) with 11,320 puts trading, or 1.3x expected. Most active are 5/22 weekly 115 puts and 5/22 weekly 110 puts, with total volume in those strikes near 7,200 contracts. The Put/Call Ratio is 2.21, while ATM IV is up nearly 2 points on the day. Earnings are expected on August 5th.
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