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SOFI

SoFi Technologies, Inc.Close $16.68EOD only
Max Pain
$17.00
Next expiry Jun 5, 2026
Expected Move
±$0.64
3.8% from close
Price Gap
+0.32
Distance to max pain
IV Rank
59
Middle-high premium
P/C OI
0.49
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 3, 2026 close
End-of-day snapshot

This page reflects SOFI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 3, 2026 close
SOFI Directional Report
Analysis based on market close June 4, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

Bullish bias with spot at $17 max pain pin, supported by strong bullish flow and positive gamma. Expect price to gravitate toward $17 in the near term, with potential extension to EM guardrails $17.61 (2d) and $18.27 (1w) if momentum persists.

Confidence:
9 / 10
Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; +1 spot near MP; +1 VIX 15
Supports: Bullish flow, positive gamma, spot at max pain $17, low VIX, EM guardrails providing upside targets.
Conflicts: High vol regime, resistance at $18.65, gamma flip at $15 if spot breaks down.
📈Bullish flow and positive gamma align, strong upward pressure to $17 pin.
🎯Spot at $17 max pain, pinning effect active for Jun5 expiry.
⚠️High vol regime implies wider ranges; manage risk near resistance $18.65.
⛔Gamma flip ~$15 poses downside risk if support fails.

Regime Classification

Vol Regime
High
IV elevated above historical avg, likely driven by upcoming expirations and bullish flow.
Gamma Regime
Pinning
Positive gamma $103.8M, pinning near $17 max pain with strong dealer hedging support.
Flow Regime
Bullish
Net bullish premium flow, skewed to calls, indicating aggressive buying.
Spot vs Max Pain
At
Spot at $17 max pain, pinning effect active with little deviation expected near term.
Thesis duration: Multi-week — Multiple max pain pins across expiries (Jun5 $17, Jun12 $16, Jun18 $15) and EM guardrails out to 2 weeks support a multi-week directional thesis.

Price Range Forecast

Next 2 days
$16.68$17.61
Max pain $17 pin; upside to $17.61 guardrail.
Next 1 week
$16.03$18.27
Range $16.03-$18.27; resistance at $18.27, support at $16.03.
Next 2 weeks
$15.64$18.65
Wider range $15.64-$18.65; gamma flip at $15 provides structural support.

Key Levels

Max pain pins: $17 (2026-06-05); $16 (2026-06-12); $15 (2026-06-18)
EM guardrails: 2d $16.68/$17.61; 1w $16.03/$18.27
Support: $17.00 · $15.64
Resistance: $18.65
Gamma flip: ~$15.00 — Approx — based on put OI concentration of 77,622 (12.5% below spot)
Structural: Max pain pins: $17 (Jun5), $16 (Jun12), $15 (Jun18). EM guardrails: 2d $16.68/$17.61, 1w $16.03/$18.27, 2w $15.64/$18.65. Support at $17, $15.64. Resistance $18.65. Gamma flip ~$15.

Dealer Positioning (GEX/DEX)

GEX: $+103.8M

DEX: +118.6M shares

Gamma flip: ~$15 (Approx — based on put OI concentration of 77,622 (12.5% below spot))

NTM gamma: Dealers long gamma $103.8M and long delta 118.6M shares, actively hedging to pin spot near $17. Gamma flip at $15 provides strong downside support.

IV Analysis

IV vs VIX: IV elevated vs VIX 15.4, implying rich premiums for short vol but event risk warrants premium.

Term structure: Term structure in contango; near-term elevated due to proximity of expiries and gamma pinning.

Skew: Skew tilted bullish from call buying; opportunity to sell puts at $15 support or buy calls for upside momentum.

Flow Analysis

Net premium: Net call premium $8.99M, P/C vol ratio 0.32, bullish.

Directional prints: 47.3 call 17 ITM 2026-06-05 — Vol/OI 1.9, likely bought calls; bullish.

Unusual: 47.3 call 17 ITM 2026-06-05 — High vol/OI 1.9, possible buy; preferred buy-side. 48 call 17.5 OTM 2026-06-05 — Vol/OI 1.7, likely bought; bullish. 173.4 put 22 ITM 2026-06-05 — Vol/OI 1.5, high IV, possible sell; unusual.

Risks & Catalysts

!Spot breaks below $17 support, triggering gamma flip toward $15.
!High vol regime amplifies any directional move, increasing risk of sharp reversals.
!Resistance at $18.65 caps upside without fresh catalyst.
!Macro or sector selloff disrupts bullish flow.

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Put credit spreadModerate-Strong
Sell 2026-06-18 $15.50/$14.00 put spread
Why now: Put credit spread captures time premium while bullish bias limits downside exposure.
Downside risk if SOFI breaks below $15 support.
Bull call spreadModerate
Buy 2026-06-18 $18.00/$19.00 call spread
Why now: Bull call spread benefits from upward drift with limited cost and defined max loss.
If SOFI stays flat or declines, premium decays; limited upside if moves sharply higher.
Bullish risk reversalModerate
Buy 2026-06-18 $18.50 call / sell 2026-06-18 $15.50 put
Why now: Risk reversal provides upside participation with no net premium outlay, leveraging call buying.
Uncapped downside if SOFI drops below short put strike; margin required for short put.
Cash-secured putModerate-Weak
Sell 2026-06-18 $15.50 cash-secured put
Why now: Cash-secured put generates income while allowing entry at a support level.
Ties up cash; if SOFI drops below $15, shares acquired at above-market price.

Top Plays

#1
Put Credit Spread
Sell 2026-06-18 $15.50/$14.00 put spread
Sell $15.50/$14.00 put spread to profit from stability above $17 support.
Why this play: Best captures time premium with defined risk, aligning with bullish bias and positive gamma.
Credit: $0.11-$0.14
Max loss: $1.36
BE: $15.36
Mgmt: Close if spot breaches $17; monitor gamma risk.
Defensive bullish traders seeking high probability.
#2
Bull Call Spread
Buy 2026-06-18 $18.00/$19.00 call spread
Buy $18/$19 call spread, capturing momentum with capped risk.
Why this play: Limited cost upside play benefiting from upward drift to $18-$19.
Debit: $0.20-$0.24
Max loss: $0.24
BE: $18.24
Mgmt: Scale out near $19; exit if spot drops below $17.
Traders wanting leveraged upside at minimal cost.
#3
Bullish Risk Reversal
Buy 2026-06-18 $18.50 call / sell 2026-06-18 $15.50 put
Buy $18.50 call, sell $15.50 put for zero cost upside exposure.
Why this play: Unlimited upside with no net premium, leveraging bullish flow.
Debit: $0.12-$0.15
Max loss: $15.50
BE: $15.50
Mgmt: Monitor gamma; close call on spike; roll put if support breaks.
Aggressive traders comfortable with downside assignment risk.

Watchlist Triggers

Entry Triggers
IFIf SOFI holds above $17 support with bullish gamma and positive flow → Enter Put Credit Spread: sell 2026-06-18 $15.50/$14.00 put spread for $0.11-$0.14 credit
IFIf SOFI breaks above 2d EM guardrail $17.61 with momentum → Enter Bull Call Spread: buy 2026-06-18 $18.00/$19.00 call spread for $0.20-$0.24 debit
IFIf SOFI holds above $17 and bullish flow persists → Enter Bullish Risk Reversal: buy 2026-06-18 $18.50 call, sell 2026-06-18 $15.50 put for ~$0.12-$0.15 credit
Adjustment Triggers
ADJIf SOFI approaches resistance $18.65 without catalyst → Scale out bull call spread, close risk reversal call, let put credit spread expire
Exit Triggers
EXITIf SOFI closes below $17 support → Exit all bullish positions; consider gamma flip toward $15

Tactical Summary

Bullish bias with spot at $17 max pain pin, supported by positive gamma and strong flow. Key support $17, resistance $18.65. Favor put credit spread for income, bull call for upside, risk reversal for aggressive. Exit if $17 breaks.
How to Use These Reports
This directional reflects the market close on June 4, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.