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 positions 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.
Today, Benzinga's options scanner spotted 11 options trades for SoFi Techs.
This isn't normal.
The overall sentiment of these big-money traders is split between 9% bullish and 81%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $48,000, and 10, calls, for a total amount of $537,881.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $7.0 and $17.0 for SoFi Techs, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of SoFi Techs stands at 61214.75, with a total volume reaching 16,191.00. 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 $7.0 to $17.0, throughout the last 30 days.
SoFi Techs Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| 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 | $1.47 | $1.46 | $1.48 | $7.00 | $85.3K | 43.4K | 194 |
| SOFI | CALL | SWEEP | BEARISH | 01/16/26 | $1.67 | $1.63 | $1.63 | $10.00 | $81.5K | 99.1K | 3.7K |
| SOFI | CALL | SWEEP | BEARISH | 01/16/26 | $1.67 | $1.63 | $1.63 | $10.00 | $81.5K | 99.1K | 3.2K |
| SOFI | CALL | SWEEP | BEARISH | 01/16/26 | $1.67 | $1.65 | $1.65 | $10.00 | $57.0K | 99.1K | 437 |
| SOFI | CALL | TRADE | BEARISH | 01/16/26 | $1.64 | $1.63 | $1.63 | $10.00 | $57.0K | 99.1K | 2.8K |
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.
After a thorough review of the options trading surrounding SoFi Techs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
SoFi Techs's Current Market Status
- Trading volume stands at 11,388,568, with SOFI's price down by -0.28%, positioned at $7.04.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 82 days.
What The Experts Say On SoFi Techs
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $8.0.
- An analyst from Deutsche Bank persists with their Hold rating on SoFi Techs, maintaining a target price of $11.
- An analyst from Wedbush downgraded its action to Underperform with a price target of $3.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $10.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest SoFi Techs options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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