High-rolling investors have positioned themselves bullish on SoFi Techs SOFI, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SOFI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for SoFi Techs. This is not a typical pattern.
The sentiment among these major traders is split, with 62% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $42,300, and 7 calls, totaling $213,911.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $10.0 for SoFi Techs, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in SoFi Techs's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to SoFi Techs's substantial trades, within a strike price spectrum from $5.0 to $10.0 over the preceding 30 days.
SoFi Techs Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SOFI | PUT | SWEEP | BEARISH | 08/16/24 | $0.14 | $0.13 | $0.14 | $6.00 | $42.2K | 149.9K | 5.7K |
| SOFI | CALL | SWEEP | BULLISH | 08/16/24 | $0.61 | $0.59 | $0.62 | $6.00 | $37.3K | 6.8K | 1.2K |
| SOFI | CALL | SWEEP | BULLISH | 08/09/24 | $0.17 | $0.15 | $0.16 | $6.50 | $32.8K | 7.8K | 8.5K |
| SOFI | CALL | TRADE | BEARISH | 01/16/26 | $1.17 | $1.15 | $1.15 | $10.00 | $31.9K | 122.7K | 723 |
| SOFI | CALL | SWEEP | BULLISH | 08/23/24 | $0.71 | $0.54 | $0.71 | $6.00 | $28.4K | 234 | 4 |
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.
Following our analysis of the options activities associated with SoFi Techs, we pivot to a closer look at the company's own performance.
Where Is SoFi Techs Standing Right Now?
- With a volume of 20,967,157, the price of SOFI is down -0.76% at $6.49.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 83 days.
Professional Analyst Ratings for SoFi Techs
In the last month, 4 experts released ratings on this stock with an average target price of $8.75.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on SoFi Techs with a target price of $8.
- An analyst from Keefe, Bruyette & Woods has decided to maintain their Market Perform rating on SoFi Techs, which currently sits at a price target of $7.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $10.
- An analyst from Needham downgraded its action to Buy with 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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