Looking At SoFi Techs's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Recent unusual options activity in SoFi Technologies (NASDAQ:SOFI) indicates a bearish sentiment among investors, with 63% of trades being bearish. The activity suggests an expected price range of $7.0 to $13.0 for SOFI over the next three months. The largest trades include both puts and calls, with a notable bearish put at a strike price of $13.00 expiring on 06/21/24. SoFi, a financial-services company, is expanding its offerings beyond student loan refinancing. The current market status shows SOFI's price at $7.21, with an upcoming earnings announcement. Analysts have issued mixed ratings with a consensus target price of $10.125.
April 22, 2024 | 5:45 pm
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Unusual options activity and analyst ratings suggest mixed sentiments for SOFI, with a bearish lean in the short term. The expected price range is $7-$13, and an earnings announcement is due soon.
The bearish sentiment from the options market, combined with the upcoming earnings announcement and the current analyst ratings, suggests potential volatility and downward pressure on SOFI's stock price in the short term. However, the presence of bullish trades and some positive analyst ratings indicate underlying optimism, adding complexity to the stock's outlook.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100