Behind the Scenes of SoFi Technologies's Latest Options Trends

Investors with a lot of money to spend have taken a bearish 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 54 uncommon options trades for SoFi Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 48%, bearish.

Out of all of the special options we uncovered, 15 are puts, for a total amount of $1,657,805, and 39 are calls, for a total amount of $1,790,585.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $7.0 to $35.0 for SoFi Technologies during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for SoFi Technologies'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 Technologies's significant trades, within a strike price range of $7.0 to $35.0, over the past month.

SoFi Technologies 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

In light of the recent options history for SoFi Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.

SoFi Technologies's Current Market Status

• Currently trading with a volume of 82,991,512, the SOFI's price is up by 2.59%, now at $17.2.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 32 days.

What The Experts Say On SoFi Technologies

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $14.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from Truist Securities downgraded its rating to Hold, setting a price target of $14.

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 Technologies with Benzinga Pro for real-time alerts.