Market Whales and Their Recent Bets on SOFI Options

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 23 uncommon options trades for SoFi Techs.

This isn't normal.

The overall sentiment of these big-money traders is split between 0% bullish and 100%, bearish.

Out of all of the special options we uncovered, 19 are puts, for a total amount of $1,704,199, and 4 are calls, for a total amount of $129,395.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $3.0 to $10.0 for SoFi Techs during the past quarter.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for SoFi Techs's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across SoFi Techs's significant trades, within a strike price range of $3.0 to $10.0, over the past month.

SoFi Techs Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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

• Trading volume stands at 30,160,322, with SOFI's price down by -0.68%, positioned at $6.57.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 69 days.

What The Experts Say On SoFi Techs

4 market experts have recently issued ratings for this stock, with a consensus target price of $9.375.

• Showing optimism, an analyst from Morgan Stanley upgrades its rating to Equal-Weight with a revised price target of $7.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on SoFi Techs with a target price of $14.
• An analyst from Piper Sandler has decided to maintain their Neutral rating on SoFi Techs, which currently sits at a price target of $8.
• An analyst from Barclays downgraded its action to Equal-Weight with a price target of $8.

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.