Home Options SOFIReports

SOFI

SoFi Technologies, Inc.Close $15.69EOD only

Max Pain

$15.50

Next expiry May 22, 2026

Expected Move

±$0.59

3.8% from close

Price Gap

-0.19

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.52

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

SOFI Flow Report

Analysis based on market close March 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from March 26, 2026. A newer flow report is available for May 20, 2026.

View latest report

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 net premium bearish; +1.5 GEX/flow aligned; -1 P/C ratio call-dominant

Watch next session: $15.50 Put OI and flow; Spot vs $15.00-$16.00 put wall; Any gamma flip above $15

Flow Summary

Net premium: -$4.7M bearish

P/C volume ratio: 0.56 — call-dominant volume

P/C OI ratio: 0.58 — moderate put lean in positioning

A clear divergence exists: volume favors calls (P/C 0.56), but net premium is significantly negative (-$4.7M), indicating large, bearish premium paid for puts. Positioning (P/C OI 0.58) and GEX (-$20M) support the bearish flow thesis.

Notable Prints

SOFI 4/2 $15.50 Put

Vol: 13,343

OI: 3,320

Vol/OI: 4.0x

IV: 53.3%

Notional: ~$1.85M (13,343 * $1.39 avg price)

Intent: Fresh directional put buying for near-term downside

Dual read: Bought to open (bearish) or sold to close (bullish)

Read-through: High volume vs OI and high notional value point to new bearish positioning. The $15.50 strike is just below spot, targeting an immediate move lower, aligning with the massive net negative premium at the $15 strike.

SOFI 4/10 $19.00 Call

Vol: 9,219

OI: 5,359

Vol/OI: 1.7x

IV: 65.2%

Notional: ~$905K (9,219 * $0.98 avg price)

Intent: Covered call writing or call selling against existing long stock

Dual read: Sold to open (neutral/bearish) or bought to close (bullish)

Read-through: This is the largest call volume print. Given the high OI and the strike being well above spot ($19 vs $15.89), this is likely sellers generating premium, not bullish bettors. It fits a neutral-to-bearish income or hedging strategy.

SOFI 4/24 $14.00 Put

Vol: 3,469

OI: 1,458

Vol/OI: 2.4x

IV: 65.2%

Notional: ~$461K (3,469 * $1.33 avg price)

Intent: Downside protection or directional bearish bet

Dual read: Bought to open (bearish) or sold to close (bullish)

Read-through: Adds to the bearish put flow narrative, establishing a floor target ~12% below spot. The multi-week expiration suggests concern beyond immediate earnings or events.

SOFI 3/27 $16.00 Call

Vol: 6,152

OI: 3,022

Vol/OI: 2.0x

IV: 72.3%

Notional: ~$308K (6,152 * $0.50 avg price)

Intent: Lottery ticket or gamma scalp near expiry

Dual read: Bought (bullish breakout) or sold (pin risk play)

Read-through: With expiry in 1 day and spot at $15.89, this is a low-delta, high-risk play. More likely noise or MM hedging around the $16 strike than a strong directional signal.

SOFI 4/17 $9.00 Call

Vol: 163

OI: 16

Vol/OI: 10.2x

IV: 189.1%

Notional: ~$16K (163 * $0.10 avg price)

Intent: Extreme OTM lottery ticket or spread leg

Dual read: Bought (speculative) or sold (premium capture)

Read-through: Despite the high vol/oi ratio, the tiny notional and extreme OTM nature make this noise, not a meaningful directional signal.

Institutional Positioning

Call additions: Minimal. Most call volume appears to be selling (e.g., $19C). Some OTM speculative interest in $20+ strikes.

Put additions: Concentrated at $15.00, $15.50, and $16.00 strikes for April expiries. This is where the significant negative net premium is located.

GEX/DEX consistency: Yes — strongly aligned. Negative GEX (-$20M) indicates dealers are short gamma and will hedge in a directionally reinforcing manner (sell on drops, buy on rallies). This amplifies the bearish signal from the put flow.

OI clusters: Major Put Walls: $15.00 (71,595 OI), $16.00 (71,937 OI). Major Call Walls: $19.00 (91,523 OI), $22.00 (89,040 OI). Spot is trapped between the put wall below and call wall above.

Hedging evidence: Strong evidence of protective put buying at $15-$16 strikes, as shown by net premium. The call selling at $19 could be part of collar strategies (long stock + long put + short call).

Max pain context: Spot ($15.89) is significantly below the near-term max pain cluster of $17-$18. This creates a gravitational pull *higher*, which is currently being resisted by the bearish flow and negative GEX.

Signal vs Noise

~High vol/oi on deep OTM calls/puts (e.g., $9C, $6P) is noise due to tiny notional value.

~$16C 3/27 volume is likely gamma-related MM hedging or pin-risk trading ahead of Friday expiry, not a clean directional signal.

~Large OI in $1 calls and $30+ calls is likely from legacy positions or multi-leg strategies, not indicative of current flow.

Key Conclusions

⚠️Flow/GEX Divergence from Max Pain: Bearish flow & negative GEX oppose the bullish pull of max pain (~$17). Watch which force wins.

🛡️Institutions are buying downside protection: Major net premium paid for $15-$16 puts indicates hedging or outright bearish bets.

🌀Negative Gamma Regime: Dealers are short gamma, making the market prone to larger, faster moves, particularly to the downside.

🎯Key Zone: $15.00-$16.00. A break below this massive put OI cluster could trigger accelerated selling due to dealer hedging.

How to Use These Reports

This flow reflects the market close on March 26, 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.