SoFi Technologies's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on SoFi Technologies 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 Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 39%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $278,892, and 19 are calls, for a total amount of $1,264,200.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $7.0 to $18.0 for SoFi Technologies over the recent three months.

Volume & Open Interest Trends

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 Technologies'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 Technologies's whale trades within a strike price range from $7.0 to $18.0 in the last 30 days.

SoFi Technologies Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About SoFi Technologies

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 Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is SoFi Technologies Standing Right Now?

• Currently trading with a volume of 58,900,993, the SOFI's price is down by -3.86%, now at $14.32.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 42 days.

Professional Analyst Ratings for SoFi Technologies

1 market experts have recently issued ratings for this stock, with a consensus target price of $14.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Truist Securities downgraded its action to Hold with a price target of $14.

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 Technologies, Benzinga Pro gives you real-time options trades alerts.