Check Out What Whales Are Doing With SOFI

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 9 options trades for SoFi Techs.

This isn't normal.

The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $32,121, and 8, calls, for a total amount of $348,750.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $17.0 for SoFi Techs over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for SoFi Techs's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of SoFi Techs's whale trades within a strike price range from $5.0 to $17.0 in the last 30 days.

SoFi Techs Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Having examined the options trading patterns of SoFi Techs, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of SoFi Techs

• With a volume of 30,547,425, the price of SOFI is down -5.88% at $7.84.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 76 days.

Expert Opinions on SoFi Techs

3 market experts have recently issued ratings for this stock, with a consensus target price of $8.833333333333334.

• In a cautious move, an analyst from Morgan Stanley downgraded its rating to Underweight, setting a price target of $6.
• An analyst from Goldman Sachs persists with their Neutral rating on SoFi Techs, maintaining a target price of $8.
• An analyst from Mizuho persists with their Buy rating on SoFi Techs, maintaining a target 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.