SOFI Flow Report

Analysis based on market close April 9, 2026

Directional Theta Gang Flow Earnings Consensus

Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.7% from MP

Watch next session: Volume and OI movement at $17.00 calls (7,885 vol, 38,457 OI) — look for fresh add vs. roll; Activity at $16.00-$16.50 puts/calls around dealer GEX +$25.1M at $16.50 and max pain $16

Flow Summary

Net premium: +$3.9M bullish

P/C volume ratio: 0.67 — call-dominant (call volume ~1.5x put volume)

P/C OI ratio: 0.55 — call-dominant open interest positioning

Today’s flow is a clear call-biased regime: positive net premium ($3.9M), P/C volume 0.67 and P/C OI 0.55. Dealers are long gamma (Total GEX +$76.7M) and concentrated hedging sits near $16.50–$17.00, making those levels pin magnets while large call OI clusters further out ($19–$22) form structural upside walls.

Notable Prints

SOFI 2026-05-15 $2.00 Call (ITM)

Vol: 692

OI: 166

Vol/OI: 4.2x

IV: 1065.6%

Notional: ~$987,900

Intent: Large structured/positioned directional call (long-dated ITM call buys or part of complex with stock) — aggressive bullish exposure

Dual read: Could be buy-to-open aggressive directional exposure or dealer taking the other side of a structured package (limited visibility)

Read-through: Size and extreme IV suggest one or few buyers pushing deep ITM delta exposure — consistent with institutional synthetic/stock replacement positioning adding long exposure into the bullish flow regime.

SOFI 2026-04-24 $16.50 Call (OTM)

Vol: 4,265

OI: 852

Vol/OI: 5.0x

IV: 54.7%

Notional: ~$260,165

Intent: Fresh short-dated directional call buying or dealer writing into demand (delta pick-up near gamma concentration)

Dual read: Bought calls (bullish) or sold calls as part of a call spread/structure (neutral to mildly bearish)

Read-through: High volume vs. low OI at a near-term pin (GEX +$25.1M at $16.50) amplifies dealer hedging flows — supports pinning around $16.50/$16.00 in the coming sessions.

SOFI 2026-04-24 $16.50 Put (ITM)

Vol: 773

OI: 218

Vol/OI: 3.5x

IV: 53.5%

Notional: ~$64,932

Intent: Protective/expiration-driven put buys or short-dated hedges

Dual read: Could be bought protection (bearish or hedge) or part of a collar where calls were bought elsewhere

Read-through: Put flow is smaller notional vs calls but clustered at the same strike as large call activity — suggests both hedging and two-sided dealer adjustments around the gamma flip area.

SOFI 2026-10-16 $24.00 Call (OTM)

Vol: 1,695

OI: 777

Vol/OI: 2.2x

IV: 64.6%

Notional: ~$161,025

Intent: Long-dated call accumulation — directional upside exposure or part of a calendar/diagonal

Dual read: Could be outright bullish call buys or opening leg of a spread selling nearer-dated calls

Read-through: Adds to evidence that institutions are comfortable adding longer-dated upside convexity while near-term dealers manage gamma in the $16–$17 band.

Institutional Positioning

Call additions: $16.50-$17.00 near-term activity and heavy OI clusters at $19.00/$20.00/$22.00 indicate institutions are adding upside exposure (both short-dated lean and longer-dated calls like $24.00). Top premium flows show concentrated call premium at $17.00 ($1,546,028) and small/large strikes ($2.00, $1.00) skewed to calls.

Put additions: Puts are concentrated at $15.00 and $16.00 (56,644 OI at $16 put, 71,279 OI at $15 put) — evidence of protective positioning but today’s volume skews to calls. Some short-dated put activity appears hedging/expiration-driven.

GEX/DEX consistency: Yes — positive Total GEX +$76.7M and DEX +116.1M shares align with bullish flow and pinning at $16.50–$17.00

OI clusters: Largest OI clusters: $19.00 call (91,260), $22.00 call (89,010), $20.00/$20.00 calls (59,579 & 39,002), $16.00 put (56,644), $15.00 put (71,279). These create upside walls out near $19–$22 and a put floor/support in the $15.00–$16.00 band.

Hedging evidence: Yes — concentrated puts at $15-$16 and near-term put volume indicate protective hedging; dealer positive gamma at $16.50 and $17.00 implies dealers are buying stock into dips. Minimal evidence of systematic collars today (call-heavy net premium).

Max pain context: Max pain near-term at $16 (04-10) and rising to $17 over coming expirations — combined with large call OI clusters this sets a pin/magnet bias toward $16–$17 as expirations approach.

Signal vs Noise

~$2.00 call premium line (Top Premium Flow: $2.00 strikes show large net call premium) — likely part of structured, long-dated institutional positioning rather than an immediate directional short-term signal.

~High IV and oddity of the 2026-05-15 $2.00 ITM call (IV 1065.6%) — treated as structured/complex; don't read as pure short-term call-buy without more context.

~Near-term $16.50/$16.00 put prints around expirations look like expiration/roll hedges rather than fresh bearish conviction.

~High OI at far out calls ($19-$22) is a structural wall from prior positioning, not necessarily fresh bullish buying today.

Key Conclusions

🐂Net premium and P/C ratios point to a bullish short-term flow with dealers long gamma (Total GEX +$76.7M) and pinning pressure around $16.50–$17.00.

📌Pin/Max Pain: Near-term expiries pin to $16 (04-10) and $17 on successive expirations — expect price magnet behavior between $16–$17.

🧭Key support cluster at $15.00–$16.00 from large put OI (71,279 at $15; 56,644 at $16) and gamma flip near $15 — downside is cushioned unless gamma breaks.

🧱Structural resistance/upside wall in the $19–$22 zone (largest call OI: 91,260 at $19; 89,010 at $22) — further rallies may slow into that band.

🔁Unusual short-dated call buying at $16.50 and large long-dated ITM call at $2.00 (05-15) likely reflect institutional positioning/stock replacement — interpret as durable bullish exposure rather than transient retail impulse.

Read the Flow analysis for SOFI for 2026-04-09. This AI-generated report covers regime classification, key price levels, strategy recommendations, and actionable trade ideas drawn from end-of-day options data including gamma exposure, delta exposure, and implied volatility.