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SOFI

SoFi Technologies, Inc.Close $17.91EOD only

Max Pain

$17.00

Next expiry Apr 17, 2026

Expected Move

±$0.76

4.2% from close

Price Gap

-0.91

Distance to max pain

IV Rank

High premium

P/C OI

0.55

Slightly call-heavy

Consensus

6.5/10

Consensus signal

Published snapshot: Apr 14, 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

Apr 14, 2026 close

SOFI Theta Report

Analysis based on market close April 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned (GEX +$167.3M, bullish flow); +1 pinning; -1 spot 5.4% from MP; +0.5 VIX 18.36

IV Environment

IV Regime

High

IV vs VIX

Avg IV 72.9% vs VIX 18.36 — IV extremely rich vs market

Favorable?

Yes

Term structure: Short-term skew: 3d ATM 50.8%, 10d ATM 52.8%, back-end bump at 17d+ (31d ATM 66.2%) — vol curve rises into the 2–6 week window

💰Avg IV 72.9% is elevated vs VIX 18.36 — rich environment for option sellers

🕰️Short-dated (4/17, 4/24) mid IVs ~50–53% (3d ATM 50.8%; 10d ATM 52.8%) give strong theta with defined risk

Pin Risk Assessment

Spot vs MP: Spot $17.91 is above max pain $17.00 (MP distance: spot 5.4% above MP as provided)

GEX regime: Pinning (GEX +$167.3M) — dealers are long gamma overall which tends to magnet price toward concentrated OI

Gamma flip: ~$15.00 — Below ~$15 dealers flip to negative gamma exposure and moves can accelerate; current flip is ~15 (pre-computed)

OI concentrations: Call wall $19-$25 (heavy call OI at $19.00 = 89,884 OI); put floor $15-$16 (60,386 OI at $16, $71,092 OI at $15 aggregated); near-term GEX magnets at $19.00 (+$43.8M), $17.50 (+$29.6M), $18.00 (+$25.1M), $17.00 (+$11.6M)

Verdict: Favorable — strong positive GEX + concentrated near-term put walls create a pinning environment that supports selling premium, especially short-dated defined-risk trades

Premium Opportunities

cash-secured put (CSP)

Sell 1x SOFI 17.00 Put 2026-04-17 (3d)

Max pain pinned at $17.00 for 4/17; GEX pinning (+$167.3M) and heavy short-term call flow into $17-$18 range make a short 3-day CSP attractive to collect theta with limited tail exposure if you are cash-secured.

Credit: $0.11-$0.12

Max loss: $16.89

BE: $16.89

Mgmt: Take profits at 50-75% of max credit (close if premium drops to $0.03–$0.06). Roll if price closes below $17.25 into wider-dated put spread or roll down to 16/15 vertical before assignment. If price gaps below $16.50 on close, cut loss (buy back) or convert to a put spread.

put vertical (defined-risk put spread)

Sell 1x SOFI 17.00 / 16.00 Put Spread 2026-04-24 (10d)

Defined risk captures tail while selling into pinning GEX and concentrated put OI at 16/15. Using 4/24 (10d) balances theta with elevated ATM IV (10d ATM 52.8%). The put floor at $15-$16 and MP near $17 supports this downside-limited trade.

Credit: $0.16-$0.20

Max loss: $0.84

BE: $16.84

Mgmt: Take profit at 60-70% of max gain. If SOFI closes below $16.50, consider rolling down or closing. If IV spikes and price drops toward $16.00, close at 80% of max loss or convert to longer-dated vertical to widen credit.

iron condor (defined-risk wings)

Sell 1x 18.00 Call / Buy 20.00 Call and Sell 1x 16.00 Put / Buy 15.00 Put 2026-04-24 (10d)

Wide short strikes capture the dealer pin area (GEX magnets at $18.00, $17.50, $19.00) and benefit from elevated IV and short-dated theta. Defined-risk wings protect against gap moves; structural call OI wall at $19-$25 gives overhead resistance to quick upside.

Credit: $0.40-$0.55

Max loss: $1.60

BE: Upper: 20.00 + credit (~20.40–20.55) / Lower: 15.00 - credit (~14.60–14.45)

Mgmt: Take profit at 50% of max credit. If either short strike is tested (close within $0.25–$0.50 of a short strike) tighten: close wing or roll the tested side toward further OTM strikes for additional credit. Exit/close if SOFI closes below $15.50 or above $20.50 on daily close (breach of 1-week EM bounds).

calendar (buy/short calendar)

Long May 15 2026 Calls (31d) short Apr 24 2026 18.00 Call (buy longer-dated, sell near-dated) — ratio size small

IV term structure shows front-week IV ~52.8% while 31d ATM is higher (66.2%) — sell short-dated calls into rich near-term flow at $18 where there is GEX concentration and buy longer-dated call exposure if you want directional skew to the upside while collecting near-term theta. Use small size given execution complexity.

Debit: $0.20-$0.50

Max loss: $0.50

BE: Depends on leg pricing; goal is front-month theta > back-month time decay

Mgmt: Aim to collect >40% of front month premium; close the short leg at 50–70% profit or if spot > short strike. If IV collapses across the curve, close entire structure. Roll short call out 1–2 weeks if short strike is threatened and you want to keep calendar.

Risk Alerts

!Earnings on 2026-04-28 and 2026-04-29 (within two weeks) — avoid selling naked premium through earnings; prefer defined-risk or close before announcement.

!Gamma flip at ~$15 — if price moves below $15 dealers flip and moves can accelerate; close credit positions below this level.

!High positive GEX (+$167.3M) can create pinning risk but also rapid mean reversion squeezes; if price starts trending away from $17-$19 on strong flow, manage early.

!Avg IV 72.9% is very elevated vs VIX 18.36 — while favorable to sellers, a large directional event or earnings surprise could produce outsized moves; keep defined risk.

!Heavy call OI at $19.00 (89,884 OI) and concentrated call flow at $17-$18 could create short squeezes into those levels; monitor large intraday flow (top premium flow shows >$4.2M at $17 and $4.5M at $18 in call flow).

Read the Theta analysis for SOFI for 2026-04-14. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.