Investors with a lot of money to spend have taken a bearish stance on SoFi Techs SOFI.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SOFI, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for SoFi Techs.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 64%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $288,425, and 7 are calls, for a total amount of $496,938.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $7.0 to $17.0 for SoFi Techs during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for SoFi Techs options trades today is 22209.36 with a total volume of 5,462.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for SoFi Techs's big money trades within a strike price range of $7.0 to $17.0 over the last 30 days.
SoFi Techs Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SOFI | CALL | TRADE | BEARISH | 01/16/26 | $7.00 | $162.5K | 20.2K | 804 |
| SOFI | CALL | TRADE | NEUTRAL | 01/16/26 | $7.00 | $161.8K | 20.2K | 823 |
| SOFI | PUT | TRADE | BULLISH | 08/16/24 | $11.00 | $77.2K | 55 | 300 |
| SOFI | CALL | SWEEP | BEARISH | 01/17/25 | $12.00 | $53.7K | 33.0K | 730 |
| SOFI | PUT | SWEEP | BEARISH | 04/19/24 | $12.00 | $45.9K | 478 | 0 |
About SoFi Techs
SoFi is a financial-services company that was founded in 2011 and is based in San Francisco. Initially known for its student loan refinancing business, the company has expanded its product offerings to include personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. The company intends to be a one-stop shop for its clients' finances and operates solely through its mobile app and website. Through its acquisition of Galileo in 2020, the company also offers payment and account services for debit cards and digital banking.
Having examined the options trading patterns of SoFi Techs, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of SoFi Techs
- With a trading volume of 14,973,971, the price of SOFI is down by -0.26%, reaching $7.66.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 48 days from now.
What The Experts Say On SoFi Techs
2 market experts have recently issued ratings for this stock, with a consensus target price of $5.5.
- An analyst from Piper Sandler downgraded its action to Neutral with a price target of $8.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Underperform with a new price target of $3.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for SoFi Techs, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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