thetaOwl

SOFI

SoFi Technologies, Inc.Close $15.98EOD only
Max Pain
$16.00
Next expiry May 29, 2026
Expected Move
±$0.68
4.3% from close
Price Gap
+0.02
Distance to max pain
IV Rank
44
Middle-high premium
P/C OI
0.52
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: May 26, 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
May 26, 2026 close
SOFI Earnings Report
Analysis based on market close April 8, 2026

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

You are viewing an older report from April 8, 2026. A newer earnings report is available for May 26, 2026.

View latest report

Earnings Verdict

Earnings window centered around 2026-04-28/29 (20–21 days). Regime is High vol / Pinning with Bullish flow and strong dealer pinning around $16–$17. Best single strategy: defined-risk premium selling inside the EM (iron/condor) into the event, or targeted debit straddle if you want pure move exposure after sizing for potential IV quirks. Key risk: a guidance-driven gap that exceeds the 1–2 week EM bounds (±$1.63 to ±$2.45) and liquidity/IV behavior around the actual confirmed date.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned (GEX +95.6M, bullish flow); +1 GEX positive (pinning); -0.5 spot 3.1% above MP
Most important: Watch IV term structure into the Apr 24–May 01 expirations (ATM IV: 59.2% on 4/24 vs 74.5% on 5/01) — that split will determine whether selling premium or buying volatility is cheaper.
📌Max pain pins at $16 (4/10 expiry) then $17 on subsequent expiries — dealers are incentivized to hold price between $16–$17.
📈Historical EPS surprises: 4 consecutive positive surprises (last four quarters).
⚠️Gamma flip at ~15.0 — if price falls below $15 dealers go from pinning to amplifying moves.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$15.00Gamma flip ~15 based on put OI concentration (71,340 at $15, ~9.0% below spot); below $15 dealers flip to amplifying moves.

Earnings Overview

Next earnings: 2026-04-28 (20 days)explicit

Expected moves:

  • 2026-04-24 (16d): 7 $1.63 (9.9%) [$14.86 - $18.12]
  • 2026-05-01 (23d): 7 $2.45 (14.9%) [$14.04 - $18.94]

IV Setup

Term structure: Notable front-end structure: 2026-04-10 ATM 68.2% then drops to ~59.6% on 4/17–4/24, but ATM jumps to 74.5% for 5/01 (post-earnings window). This creates options where some expirations that straddle the event are richer than the very-near ones.

Crush estimate: ~8-12 vol pts post-release if IV reverts toward mid-60s (example: 5/01 ATM 74.5% could drop back toward ~60-66% after prints) — expect meaningful but not total IV collapse given elevated baseline (Avg IV 72.9%).

Skew: Puts are relatively cheap on flow metrics (P/C vol 0.45, P/C OI 0.56) while call OI clusters exist out at $18-$22; slight call interest at higher strikes (bullish).

Historical Context

Beat rate: 100% (4/4 quarters in provided history)

Avg move vs expected: Not provided explicitly; the company consistently posted positive EPS surprises in the last four quarters.

Directional bias: Biased to upside around prints given consistent beats and call OI / premium flow skew toward calls

Key Levels

1$15.00
2$16.00
3$17.00
4EM (2d): $15.82 - $17.15
5EM (1w): $15.26 - $17.72
6Gamma flip: 15.0

Flow Highlights

Heavy premium flow into $22.00 calls: Call premium $2,569,808 (net call heavy).

Institutional bullish leverage / covered-call hedging out at $22; long-term call interest indicates directional upside bets well above current spot.

Material premium at $17.00 strike (mixed: $2,220,134 call premium vs $2,777,563 put premium net -$557,430).

Two-sided interest at $17 with slightly net put premium suggests dealers are hedged around this level and it reinforces pinning pressure toward $16–$17.

Strategies

Short iron condor (defined-risk premium sell)
Sell 2026-05-01 15.00P / buy 2026-05-01 14.00P — sell 2026-05-01 18.00C / buy 2026-05-01 19.00C
Credit: $1.00-$1.40
Max loss: $5.00
Max gain: $1.40
BE: $14.00 / $19.40
Trigger: Enter 3–7 trading days before earnings if the 5/01 curve IV stays >70% and you can collect >$1.00 credit.
Pinning/GEX +95.6M concentrated at $16.50–$17.00 and consistent positive flow support selling premium inside the EM; defined risk limits tail exposure while harvesting inflated IV (5/01 ATM 74.5%).
Outperforms: Underlying remains inside the 1-week EM rails ($15.26 - $17.72) and IV compresses post-print.
Underperforms: Stock gaps outside the wings (below $14 or above $19) on guidance or a large print-driven move; also vulnerable if immediate pre-earnings IV ramps making put side expensive.
Long straddle (pure event exposure)
Buy 2026-05-01 16.50 straddle (buy 16.50C + buy 16.50P)
Debit: $3.00-$4.00
Max loss: $4.00
Max gain: Unlimited
BE: $12.50 / $20.50 (approx)
Trigger: Enter 1–3 days before earnings if IV on 5/01 hasn't further spiked above current levels or if you expect a guidance-driven gap.
Highest convexity to a big surprise; historical EPS beats bias upside, but straddle protects either direction. Use smaller size given elevated avg IV 72.9%.
Outperforms: Actual post-earnings move exceeds the 5/01 EM (~7 $2.45) and IV remains elevated or market amplifies the move.
Underperforms: Stock pins between $15.26–$17.72 and IV collapses; or if IV has already been bid up significantly pre-entry.
Directional debit call spread (upside lean)
Buy 2026-05-01 16.50C / sell 2026-05-01 19.00C
Debit: $0.60-$1.20
Max loss: $1.20
Max gain: $2.30
BE: Approx $17.10
Trigger: Enter on confirmed call buying momentum or if IV for 5/01 is cheaper than shorter-dated expirations.
Call OI wall (18–22) and bullish flow suggest skewed upside potential; defined debit spread limits cost while capturing directional upside.
Outperforms: Stock gaps above the short strike toward call OI walls ($18-$22) post-earnings; retains upside while reducing cost vs naked calls.
Underperforms: Print is muted or pins; or if IV collapses and move is small.

Risk Assessment

!Gap risk: EM bounds show 4/24 ±$1.63 and 5/01 ±$2.45; guidance-led gap can exceed these, causing large losses on short structures.
!IV crush: Expect an IV drop post-print of ~8–12 vol pts from the 5/01 ATM 74.5% reference; long volatility buyers must overcome premium; sellers need to manage gamma if spot approaches wing strikes.
!Liquidity: Chains are liquid near spot (total OI large, top strikes show big OI), but some farther strikes (e.g., $14-$14.5 or >$20) are less liquid—leg fill risk exists.
!Sizing: Given high avg IV (72.9%) and strong dealer pinning (GEX +95.6M), use smaller notional sizes for directionals and scale premium-selling positions to defined risk bands.
!Model/term risk: IV term structure oddity (4/24 low vs 5/01 jump) could produce mis-priced cross-expiration hedges; avoid legging across those expirations without confirming spreads.

What to Watch

?IV trajectory into 4/24 and 5/01 expirations (watch ATM IV: 59.2% on 4/24 vs 74.5% on 5/01).
?Unusual activity at $17.00 and $16.50 puts (large OI + elevated volumes) and the large $22 call premium flow.
?Dealer hedging/GEX concentration near $16.50–$17.00 (GEX +29.7M at $17.00; +26.2M at $16.50).
?Confirmed earnings timing/guide — currently listed as 2026-04-28/29; any change will reprice term structure.
How to Use These Reports
This earnings reflects the market close on April 8, 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.