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 19 strange trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $1,351,164 and 6, calls, for a total amount of $336,966.
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 $6.0 to $20.0 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 8743.56 with a total volume of 104,544.00.
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 $6.0 to $20.0 over 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 | TRADE | BULLISH | 05/06/22 | $6.00 | $621.0K | 338 | 73.3K |
| SOFI | PUT | TRADE | BULLISH | 04/29/22 | $9.00 | $227.2K | 3.9K | 180 |
| SOFI | CALL | SWEEP | BULLISH | 06/17/22 | $6.00 | $108.5K | 188 | 141 |
| SOFI | CALL | SWEEP | BULLISH | 06/17/22 | $6.00 | $85.5K | 188 | 1.5K |
| SOFI | PUT | SWEEP | BEARISH | 05/13/22 | $7.00 | $80.1K | 573 | 5.2K |
Where Is SoFi Technologies Standing Right Now?
- With a volume of 33,782,853, the price of SOFI is down -4.93% at $7.24.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 27 days.
What The Experts Say On SoFi Technologies:
- MoffettNathanson downgraded its action to Buy with a price target of $13
- Mizuho has decided to maintain their Buy rating on SoFi Technologies, which currently sits at a price target of $14.
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $10
- Oppenheimer has decided to maintain their Outperform rating on SoFi Technologies, which currently sits at a price target of $13.
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.
