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Looking At SoFi Technologies's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on SoFi Technologies (NASDAQ:SOFI). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga · 12/29/2021 10:43

Someone with a lot of money to spend has taken a bearish stance on SoFi Technologies (NASDAQ:SOFI).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for SoFi Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $971,344, and 7 are calls, for a total amount of $316,317.

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 $10.0 to $35.0 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 7605.55 with a total volume of 5,385.00.

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 $10.0 to $35.0 over the last 30 days.

SoFi Technologies Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SOFI PUT TRADE BEARISH 01/21/22 $35.00 $498.4K 2.7K 0
SOFI PUT TRADE BULLISH 07/15/22 $15.00 $222.6K 14.3K 602
SOFI PUT SWEEP BULLISH 04/14/22 $12.50 $159.2K 5.8K 1.3K
SOFI CALL SWEEP BEARISH 01/20/23 $10.00 $135.6K 9.9K 214
SOFI PUT TRADE BEARISH 03/18/22 $15.00 $91.0K 3.6K 350

Where Is SoFi Technologies Standing Right Now?

  • With a volume of 7,947,307, the price of SOFI is down -3.24% at $14.37.
  • 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:

  • Citigroup downgraded its action to Buy with a price target of $20
  • Rosenblatt has decided to maintain their Buy rating on SoFi Technologies, which currently sits at a price target of $28.
  • Morgan Stanley has decided to maintain their Overweight rating on SoFi Technologies, which currently sits at a price target of $22.
  • Keefe, Bruyette & Woods downgraded its action to Market Perform with a price target of $21

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.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.