Deep-pocketed investors have adopted a bullish approach towards SoFi Techs SOFI, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SOFI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for SoFi Techs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 6 are puts, totaling $340,528, and 14 are calls, amounting to $466,828.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $6.0 to $17.0 for SoFi Techs over the last 3 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 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 $6.0 to $17.0 in the last 30 days.
SoFi Techs 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SOFI | PUT | TRADE | BEARISH | 01/17/25 | $10.00 | $173.4K | 10.4K | 845 |
| SOFI | CALL | TRADE | BULLISH | 01/17/25 | $15.00 | $48.1K | 106.8K | 1.6K |
| SOFI | PUT | SWEEP | BULLISH | 07/19/24 | $11.00 | $44.6K | 674 | 302 |
| SOFI | CALL | TRADE | BEARISH | 06/21/24 | $7.00 | $40.9K | 6.5K | 216 |
| SOFI | CALL | SWEEP | NEUTRAL | 06/21/24 | $7.00 | $40.1K | 6.5K | 407 |
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.
Present Market Standing of SoFi Techs
- With a trading volume of 29,848,189, the price of SOFI is down by -0.12%, reaching $8.12.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 77 days from now.
Professional Analyst Ratings for SoFi Techs
In the last month, 3 experts released ratings on this stock with an average target price of $8.833333333333334.
- An analyst from Morgan Stanley has revised its rating downward to Underweight, adjusting the price target to $6.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on SoFi Techs, which currently sits at a price target 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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