This Is What Whales Are Betting On SoFi Technologies

Someone with a lot of money to spend has taken a bearish stance on SoFi Technologies SOFI.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for SoFi Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 16% bullish and 83%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $12,445,504, and 2 are calls, for a total amount of $95,000.

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2.5 to $35.0 for SoFi Technologies over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for SoFi Technologies options trades today is 21105.0 with a total volume of 24,366.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for SoFi Technologies's big money trades within a strike price range of $2.5 to $35.0 over the last 30 days.

SoFi Technologies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is SoFi Technologies Standing Right Now?

• With a volume of 33,675,604, the price of SOFI is down -6.99% at $5.53.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 59 days.

What The Experts Say On SoFi Technologies:

• Piper Sandler upgraded its action to Overweight with a price target of $10
• Mizuho has decided to maintain their Buy rating on SoFi Technologies, which currently sits at a price target of $9.

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.