High-rolling investors have positioned themselves bullish on SoFi Techs SOFI, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SOFI often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for SoFi Techs. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $184,500, and 7 calls, totaling $439,699.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $1.0 and $15.0 for SoFi Techs, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of SoFi Techs stands at 28477.0, with a total volume reaching 10,696.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in SoFi Techs, situated within the strike price corridor from $1.0 to $15.0, throughout the last 30 days.
SoFi Techs 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SOFI | PUT | TRADE | BULLISH | 01/17/25 | $5.00 | $184.5K | 24.5K | 4.1K |
| SOFI | CALL | TRADE | BULLISH | 01/17/25 | $1.00 | $148.0K | 1.0K | 200 |
| SOFI | CALL | SWEEP | BULLISH | 01/17/25 | $1.00 | $147.0K | 1.0K | 400 |
| SOFI | CALL | SWEEP | BEARISH | 01/17/25 | $15.00 | $41.8K | 111.0K | 3.8K |
| SOFI | CALL | SWEEP | BEARISH | 03/28/24 | $7.00 | $26.3K | 42 | 201 |
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
SoFi Techs's Current Market Status
- Trading volume stands at 32,884,666, with SOFI's price down by -2.12%, positioned at $8.33.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 68 days.
Professional Analyst Ratings for SoFi Techs
2 market experts have recently issued ratings for this stock, with a consensus target price of $7.25.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on SoFi Techs, which currently sits at a price target of $8.
- In a cautious move, an analyst from Morgan Stanley downgraded its rating to Underweight, setting a price target of $6.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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