SoFi Call Options Volume Doubles Ahead of Financial Results: Options Chatter

More than 423,000 call options changed hands across 15 expiration dates that stretch through Jan. 15, 2027, exchange data as of 12:57 p.m. in New York showed. That compares with the 20-day average of 164,529 contracts, according to data compiled by Bloomberg.

Trading activities were bolstered by a multi-leg transaction that included two bullish block trades for call options that give the holder the right to buy a combined 8.08 million Sofi shares at $15 in 18 days, and a bearish transaction for call options with a $13 strike price, with the same expiration date.

Total volume on those $15 call options jumped to 143,520, so far, almost seven times the open interest, exchange data showed.

Demand for Sofi call options climbed after the stock advanced as much as 3.9% to $13.38, boosting the probability that the contracts could be in the money before they expire on May 16. The stock then retreated 0.7%, adding to the volatility that has spurred increased buying and selling of the call options.

While JPMorgan analysts including Reginald Smith expect Sofi’s management to acknowledge the uncertainty it faces in the second half of 2025, they noted the company’s “funding durability and prime borrower profile,” as they expect shares to rally once the results are out.

Economists surveyed by Bloomberg saw a 45% chance of an economic downturn in the next 12 months, up from 30% in March, as President Donald Trump’s trade war and tariff policies push prices higher, crimping consumer spending, the news organization reported last week.

“We continue to think the consumer is relatively healthy, notwithstanding weakening sentiment data, and take a degree of comfort knowing” that the company’s loan underwriting models were tested through one of the sharpest inflation spikes in U.S. history and the Federal funds rate hiking cycles between 2022 and 2023, the JPMorgan analysts wrote in a note published Sunday.

On average, analysts expect the company to report an increase in adjusted net revenue for the three months that ended March 31 to $742.4 million, from $645 million a year earlier, according to Bloomberg consensus.

Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) is expected to rise to $178 million, from $144.4 million a year earlier, estimates compiled by Bloomberg show.

“Management might address possible changes to the trajectory of loan volume in an uncertain economy,” Bloomberg Intelligence analysts Herman Chan and Sergio Ferreira wrote in a note published last week. Still, they noted that “recently announced loan agreements totaling $3.2 billion with Fortress and Edge Focus suggest continued healthy funding supply that supports loan platform fees.”