Fortinet Inc. (FTNT)
NASDAQ: FTNT
· Real-Time Price · USD
77.25
-2.08 (-2.62%)
At close: Aug 14, 2025, 3:59 PM
77.73
0.62%
Pre-market: Aug 15, 2025, 08:52 AM EDT
FTNT Delta Exposure By Expiry
The total Delta Exposure (DEX) for FTNT across all expirations shows 247,774.79 net shares that market makers must hedge, with 2,805,878.55 from calls and 2,558,103.76 from puts. The put-call delta ratio of 0.91 suggests neutral market maker positioning. The largest delta concentration at Jan 15, 27 with 298,069 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 22, 25 carries positive delta requiring market makers to short shares, potentially creating resistance.
FTNT DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 112,637.14 | -60,838.54 | 51,798.6 | 0.54 |
| Aug 29, 25 | 167,454.05 | -53,711.7 | 113,742.35 | 0.32 |
| Sep 5, 25 | 69,607.43 | -38,252.58 | 31,354.85 | 0.55 |
| Sep 12, 25 | 86,832.01 | -25,794.53 | 61,037.48 | 0.30 |
| Sep 19, 25 | 409,716.51 | -609,146.75 | -199,430.24 | 1.49 |
| Sep 26, 25 | 18,902.11 | -10,329.84 | 8,572.27 | 0.55 |
| Oct 17, 25 | 192,106.54 | -117,262.02 | 74,844.52 | 0.61 |
| Nov 21, 25 | 135,723.5 | -202,213.58 | -66,490.08 | 1.49 |
| Dec 19, 25 | 156,492.7 | -199,476.6 | -42,983.9 | 1.27 |
| Jan 16, 26 | 566,578.37 | -451,095.83 | 115,482.54 | 0.80 |
| Feb 20, 26 | 13,313.53 | -12,091.84 | 1,221.69 | 0.91 |
| Mar 20, 26 | 85,955.95 | -212,506.31 | -126,550.36 | 2.47 |
| Jun 18, 26 | 147,602.18 | -228,564.54 | -80,962.36 | 1.55 |
| Sep 18, 26 | 68,195.6 | -46,522.96 | 21,672.64 | 0.68 |
| Dec 18, 26 | 89,528.59 | -103,132.8 | -13,604.21 | 1.15 |
| Jan 15, 27 | 485,232.34 | -187,163.34 | 298,069 | 0.39 |