SoFi Techs Unusual Options Activity For May 21

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 11 uncommon options trades for SoFi Techs.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 45%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $88,972, and 9 are calls, for a total amount of $357,185.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $4.0 to $12.0 for SoFi Techs over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for SoFi Techs options trades today is 29846.33 with a total volume of 15,908.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for SoFi Techs's big money trades within a strike price range of $4.0 to $12.0 over the last 30 days.

SoFi Techs Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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 16,784,892, the price of SOFI is down -0.42% at $7.16.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 69 days.

Professional Analyst Ratings for 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.

• Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for SoFi Techs, targeting a 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.