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SOFI

SoFi Technologies, Inc.Close $15.65EOD only

Max Pain

$15.50

Next expiry May 22, 2026

Expected Move

±$0.40

2.5% from close

Price Gap

-0.15

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 21, 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 21, 2026 close

SOFI Flow Report

Analysis based on market close April 7, 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 April 7, 2026. A newer flow report is available for May 21, 2026.

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Flow Verdict

Confidence:

6 / 10

base 6.0; GEX +58.5M (pinning) supports neutral/pin; net premium -$1.8M (small put bias) drags; IV high (75%) keeps uncertainty

Watch next session: Fresh put buying at $15.00–$16.00 (premium flow matching prior -$1.05M @ $15); Call OI/pinch activity around $16.50–$17.00 (watch volume vs OI at these strikes)

Flow Summary

Net premium: -$1.8M (modest bearish premium)

P/C volume ratio: 0.98 — near neutral (slightly call-light by volume)

P/C OI ratio: 0.55 — structurally more call OI than put OI (call heavy on the books)

Intraday flow is mixed: registers a modest net put premium (-$1.8M) but OI is concentrated on call strikes (19/22/20). Dealers show positive GEX (+$58.5M) creating pinning pressure in the $16.5–$17.0 area even as buyers add protection at $15–$16. Overall this looks like institutions hedging downside while maintaining call-biased structural exposure — result: a pinned market with a slight tactical bearish tilt.

Notable Prints

16.50 Call (near-term)

Vol: 12,974

OI: 22,749

Vol/OI: 0.6x

IV: 75.0%

Notional: ~$497,492 (top premium flow record)

Intent: Fresh directional call accumulation or callable overlay (bullish/income overlay)

Dual read: Aggressive call buyers (bullish) or dealers/unwind activity/sell-to-open for covered calls (neutral)

Read-through: Large call activity at $16.50 (2.4% above spot) is meaningful given GEX concentration at $16.50 and $17.00 — supports dealer pinning to that band and indicates institutions are increasingly anchored to mid-$16s calls while simultaneously hedging downside elsewhere.

16.00 Put (near-term)

Vol: 3,877

OI: 57,458

Vol/OI: 0.1x

IV: 65.0%

Notional: ~$-549,504 (net put premium at $16 listed in Top Premium Flow)

Intent: Protective put buying / downside hedge

Dual read: Bought puts (bearish/hedge) or put writes (income) — volume vs OI and net premium suggests buying pressure

Read-through: Significant put premium at $16 combined with high OI implies managers are adding downside protection around the current spot — supports a cautious stance and increases dealer hedging sensitivity around the $15–$16 band.

15.00 Put (net premium flow / unusual longer-dated activity)

Vol: 2,048

OI: 178

Vol/OI: 11.5x

IV: 67.6%

Notional: ~$-1,052,878 (Top Premium Flow shows net put premium -$1,052,878 at $15)

Intent: Significant directional protective put buying for May 22 or structured hedges

Dual read: Defensive protective put (hedge) or purchase for outright bearish directional exposure

Read-through: High vol/OI for the May 22 $15 puts (11.5x) signals concentrated interest in downside protection just below current spot. This is high-signal hedging interest that supports downside pin/put-floor expectations around $15.

SOFI260515P00008000 $8 Put (May 15)

Vol: 2,412

OI: 173

Vol/OI: 13.9x

IV: 111.7%

Notional: ~$72k (Last $0.03 * 100 * 2,412 ≈ $7,236 premium paid; higher notional exposure if directional)

Intent: Deep-OTM long-dated protection / speculative long volatility

Dual read: Tail-hedge (institutional size) or small spec position accumulating cheap tail risk

Read-through: Very high vol/OI ratio for this deep OTM May put — not immediate directional given strike 50% below spot, but could be cheap tail hedging or structured book positioning for large portfolios.

Institutional Positioning

Call additions: Concentrated call OI at $19.00, $22.00 and heavy flows at $16.50–$17.00 — institutions carry large call exposure above spot while adding short-dated calls in the mid-$16s.

Put additions: Notable protective put premium at $15.00 and $16.00 (top premium flows: -$1,052,878 @ $15; -$549,504 @ $16) — evidence of downside hedging around $15–$16.

GEX/DEX consistency: Yes — positive GEX (+$58.5M) and DEX (+115.1M shares) align with the observed pinning to $16.5–$17 and with concentrated call OI; dealer gamma exposure supports a magnet in that band.

OI clusters: $16.00 put cluster (57,458 OI) and $15.00 put (27,622 OI) create a put floor near $15–$16; call concentration at $19.00 (88,801 OI) and $22.00 (87,832 OI) sits higher but out of immediate range — nearer-term call walls at $16.50/$17.00 (22,749 / 37,987 OI) create a pin band.

Hedging evidence: Clear protective put activity (15/16 strikes) and a May 22 $15 put block — indicates active downside hedging. Little evidence of large-scale collar structuring in the near-term chain, more one-way put protection.

Max pain context: Max pain is currently $16 (exp 4/10) rising to $17 on subsequent expirations — fits the dealer pinning picture and the GEX concentrations at $16.50–$17.00; MP trend is upward which supports a gradual shove toward $17 if flow persists.

Signal vs Noise

~SOFI260515P00008000 $8 Put (deep OTM) — likely tail-hedge or speculative volatility play, not near-term directional

~Large call OI at $19/$22 — structural position/wall on the books rather than intraday directional prints (strikes >10% from spot)

~Near-term expirations (4/10) activity includes rolling and gamma-driven dealer adjustments — some volume at $16-$17 may be market-maker inventory hedging rather than new directional conviction

~High vol/OI ratio prints in long-dated strikes (e.g., Dec $9) often reflect portfolio hedging or spreads across expirations, not pure directional bets

Key Conclusions

📌Pinning pressure around $16.50–$17.00 driven by positive GEX (+$58.5M) and concentrated short-dated call OI — dealers likely to hedge toward this band.

🛡️Institutions are buying downside protection at $15.00–$16.00 (net put premium ~-$1.6M across these strikes) — suggests cautious positioning and risk-off hedging.

⚖️Net premium is modestly negative (-$1.8M) while P/C volume is ~0.98 — flow is mixed; watch whether put flows accelerate for directional clarity.

🔎High-volume activity at the $16.50 call (12,974 contracts) is significant and consistent with dealer pinning; interpret together with put buying, not in isolation.

📉Key support cluster: $15.00 and $16.00 (put OI floors) — failure below $15.22 EM guardrail would increase downside acceleration risk.

📈Resistance/target zone: $16.50–$17.50 (gamma flip ~ $15 but GEX concentrations and MP trending to $17) — sustained push above $17.50 would invalidate the current pin/hedge narrative.

How to Use These Reports

This flow reflects the market close on April 7, 2026.

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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.

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