Fortinet fell hard last quarter, and the bears came back yesterday.
OptionMonster's tracking systems detected unusual activity in the January 20 puts shortly after the open, with buyers paying $0.25 to $0.30. More than 3,600 contracts traded by the end of the session, far above the strike's previous open interest of just 244 and therefore new positions.
Puts lock in the price where investors have the right to sell stock, so the options can generate some nice leverage in the event of a decline. That happened nicely yesterday because those puts more than tripled in value to $1.20 as the network-security stock pushed lower.