Investors with a lot of money to spend have taken a bullish 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 13 uncommon options trades for SoFi Techs.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 46%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $178,882, and 9 are calls, for a total amount of $557,843.
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 $5.0 and $12.0 for SoFi Techs, spanning the last three months.
Volume & Open Interest Development
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 $12.0 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 | CALL | SWEEP | BULLISH | 03/21/25 | $3.1 | $3.05 | $3.1 | $5.00 | $185.8K | 2.6K | 717 |
| SOFI | CALL | SWEEP | BULLISH | 01/17/25 | $2.94 | $2.89 | $2.94 | $5.00 | $88.2K | 22.7K | 402 |
| SOFI | CALL | SWEEP | BEARISH | 06/18/26 | $1.54 | $1.44 | $1.45 | $12.00 | $73.2K | 5.4K | 626 |
| SOFI | CALL | SWEEP | BULLISH | 09/13/24 | $0.14 | $0.13 | $0.14 | $8.00 | $63.4K | 8.0K | 8.0K |
| SOFI | PUT | SWEEP | BEARISH | 11/15/24 | $0.45 | $0.44 | $0.44 | $7.00 | $61.2K | 19.9K | 3.4K |
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
- With a volume of 28,937,247, the price of SOFI is down -1.5% at $7.87.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 55 days.
Expert Opinions on SoFi Techs
1 market experts have recently issued ratings for this stock, with a consensus target price of $10.0.
- An analyst from Needham downgraded its action to Buy with a price target of $10.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for SoFi Techs with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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