A whale with a lot of money to spend has taken a noticeably bearish stance on SoFi Technologies.
Looking at options history for SoFi Technologies (NASDAQ:SOFI) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $199,950 and 6, calls, for a total amount of $253,014.
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 $5.0 to $25.0 for SoFi Technologies over the last 3 months.
Volume & Open Interest Development
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 Technologies'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 Technologies's whale trades within a strike price range from $5.0 to $25.0 in the last 30 days.
SoFi Technologies Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SOFI | PUT | SWEEP | BEARISH | 01/20/23 | $17.50 | $79.5K | 23.6K | 86 |
| SOFI | CALL | SWEEP | BEARISH | 06/17/22 | $10.00 | $50.0K | 16.4K | 597 |
| SOFI | PUT | TRADE | BEARISH | 05/20/22 | $25.00 | $47.8K | 2.4K | 30 |
| SOFI | PUT | SWEEP | BULLISH | 01/19/24 | $5.00 | $47.5K | 1.5K | 500 |
| SOFI | CALL | SWEEP | BULLISH | 01/20/23 | $15.00 | $46.3K | 59.2K | 566 |
Where Is SoFi Technologies Standing Right Now?
- With a volume of 24,342,768, the price of SOFI is up 0.5% at $9.05.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 44 days.
What The Experts Say On SoFi Technologies:
- Piper Sandler downgraded its action to Neutral with a price target of $12
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $10
- Morgan Stanley has decided to maintain their Overweight rating on SoFi Technologies, which currently sits at a price target of $18.
- B of A Securities downgraded its action to Neutral with a price target of $14
- Credit Suisse has decided to maintain their Neutral rating on SoFi Technologies, which currently sits at a price target of $15.
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.
