Behind the Scenes of SoFi Techs's Latest Options Trends

Deep-pocketed investors have adopted a bearish 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 11 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 45% leaning bullish and 54% bearish. Among these notable options, 5 are puts, totaling $272,490, and 6 are calls, amounting to $249,661.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $6.0 to $14.0 for SoFi Techs during the past quarter.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in SoFi Techs's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to SoFi Techs's substantial trades, within a strike price spectrum from $6.0 to $14.0 over the preceding 30 days.

SoFi Techs 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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

Present Market Standing of SoFi Techs

• Trading volume stands at 25,600,742, with SOFI's price up by 4.46%, positioned at $7.62.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 59 days.

Expert Opinions on SoFi Techs

In the last month, 3 experts released ratings on this stock with an average target price of $9.166666666666666.

• An analyst from Piper Sandler has decided to maintain their Neutral rating on SoFi Techs, which currently sits at a price target of $8.
• An analyst from Citigroup persists with their Buy rating on SoFi Techs, maintaining a target price of $11.
• In a cautious move, an analyst from Barclays downgraded its rating to Equal-Weight, setting a price target of $8.

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.