Deep-pocketed investors have adopted a bullish approach towards SoFi Techs SOFI, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SOFI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for SoFi Techs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 3 are puts, totaling $117,383, and 7 are calls, amounting to $424,199.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $3.5 to $7.5 for SoFi Techs over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of SoFi Techs stands at 15782.71, with a total volume reaching 19,539.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in SoFi Techs, situated within the strike price corridor from $3.5 to $7.5, throughout the last 30 days.
SoFi Techs Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SOFI | CALL | SWEEP | BULLISH | 01/17/25 | $1.79 | $1.76 | $1.79 | $7.00 | $147.3K | 37.7K | 1.0K |
| SOFI | CALL | TRADE | NEUTRAL | 05/17/24 | $1.54 | $1.08 | $1.31 | $6.00 | $88.4K | 4.2K | 677 |
| SOFI | PUT | SWEEP | BEARISH | 04/05/24 | $0.15 | $0.13 | $0.15 | $7.00 | $62.5K | 13.0K | 4.6K |
| SOFI | CALL | SWEEP | BULLISH | 01/17/25 | $1.79 | $1.76 | $1.79 | $7.00 | $54.3K | 37.7K | 367 |
| SOFI | CALL | TRADE | BEARISH | 01/17/25 | $3.95 | $3.8 | $3.85 | $3.50 | $38.5K | 789 | 178 |
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.
Present Market Standing of SoFi Techs
- With a trading volume of 7,979,897, the price of SOFI is down by -2.49%, reaching $7.04.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 27 days from now.
What The Experts Say On SoFi Techs
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $7.666666666666667.
- An analyst from Wedbush has revised its rating downward to Underperform, adjusting the price target to $3.
- In a cautious move, an analyst from Piper Sandler downgraded its rating to Neutral, setting a price target of $8.
- Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for SoFi Techs, targeting a price of $12.
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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