Investors with a lot of money to spend have taken a bullish stance on SoFi Techs (NASDAQ:SOFI).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for SoFi Techs.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $180,803, and 6 are calls, for a total amount of $255,272.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $8.0 for SoFi Techs over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of SoFi Techs stands at 22170.33, with a total volume reaching 19,285.00. 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 $5.0 to $8.0, throughout the last 30 days.
SoFi Techs 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SOFI | PUT | SWEEP | BULLISH | 01/17/25 | $1.59 | $1.57 | $1.57 | $8.00 | $122.3K | 3.1K | 29 |
| SOFI | CALL | SWEEP | BEARISH | 08/16/24 | $0.49 | $0.46 | $0.46 | $8.00 | $89.6K | 18.8K | 926 |
| SOFI | PUT | TRADE | NEUTRAL | 01/17/25 | $0.4 | $0.38 | $0.39 | $5.50 | $58.5K | 41.0K | 156 |
| SOFI | CALL | TRADE | BULLISH | 03/21/25 | $1.93 | $1.59 | $1.8 | $7.00 | $36.0K | 7.4K | 0 |
| SOFI | CALL | TRADE | BULLISH | 01/16/26 | $3.55 | $3.5 | $3.55 | $5.00 | $35.5K | 19.6K | 459 |
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.
Where Is SoFi Techs Standing Right Now?
- With a trading volume of 32,463,522, the price of SOFI is up by 3.42%, reaching $7.24.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 47 days from now.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for SoFi Techs with Benzinga Pro for real-time alerts.