Financial giants have made a conspicuous bullish move on SoFi Techs. Our analysis of options history for SoFi Techs (NASDAQ:SOFI) revealed 19 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $258,030, and 13 were calls, valued at $702,192.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $5.0 and $15.0 for SoFi Techs, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for SoFi Techs's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across SoFi Techs's significant trades, within a strike price range of $5.0 to $15.0, over the past month.
SoFi Techs Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SOFI | CALL | SWEEP | BEARISH | 05/03/24 | $2.61 | $2.6 | $2.6 | $5.00 | $141.7K | 145 | 0 |
| SOFI | CALL | TRADE | BULLISH | 01/16/26 | $4.05 | $3.9 | $4.01 | $5.00 | $100.2K | 13.5K | 344 |
| SOFI | PUT | SWEEP | BEARISH | 06/21/24 | $1.05 | $1.04 | $1.05 | $8.00 | $66.2K | 9.0K | 116 |
| SOFI | PUT | SWEEP | BULLISH | 10/18/24 | $1.1 | $0.9 | $0.9 | $7.00 | $53.9K | 1.4K | 302 |
| SOFI | CALL | SWEEP | BULLISH | 09/20/24 | $0.77 | $0.76 | $0.77 | $9.00 | $51.6K | 8.5K | 693 |
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.
Where Is SoFi Techs Standing Right Now?
- With a trading volume of 35,786,883, the price of SOFI is down by -0.07%, reaching $7.58.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 5 days from now.
Professional Analyst Ratings for SoFi Techs
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $10.125.
- Reflecting concerns, an analyst from Citigroup lowers its rating to Buy with a new price target of $11.
- An analyst from Jefferies has decided to maintain their Buy rating on SoFi Techs, which currently sits at a price target of $12.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $10.
- An analyst from Keefe, Bruyette & Woods has elevated its stance to Market Perform, setting a new price target at $7.
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.