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SOFI

SoFi Technologies, Inc.Close $19.43EOD only
Max Pain
$17.00
Next expiry Apr 24, 2026
Expected Move
±$1.18
6.1% from close
Price Gap
-2.43
Distance to max pain
IV Rank
100
High premium
P/C OI
0.53
Slightly call-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Apr 17, 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 17, 2026 close
SOFI Theta Report
Analysis based on market close April 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Iron condor: sell 30Δ put and 10–15Δ call, wings 5–7 points, buy outer protection; size smaller if spot within $1 of $18; stop/roll if spot >22.2 or front-month IV spikes >+30% (buy calls/roll short puts wider). Avoid placing short strikes at $18 OI cluster.
Invalidation: Spot >22.2 sustained or rapid front-month IV spike >+30% or spot moves into $18 OI cluster triggering heavy pinning
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 11.4% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV ~75% vs VIX 18.9 — equity IV structurally elevated vs market
Favorable?
No

Term structure: Steep short-term put skew (front-week puts >> calls); longer-dated IV elevated and noisy

⚠️Heavy put IV and OI concentrated near $18 — avoid short strikes there
📉Steep short-dated skew favors defined-risk sells if avoiding pin clusters and using tight hedges

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+140.3M)

Gamma flip: ~$15.00 — Approx — based on put OI concentration of 70,739 (23.1% below spot)

OI concentrations: Put OI ~70,739 at $18 (≈23% below spot) concentrated in April expiries

Verdict: High pin risk at $18; avoid short strikes near this concentration and size conservatively

Premium Opportunities

#1
Call diagonal
Sell 2026-05-22 $23.00 call / buy 2026-06-18 $24.00 call
Defined‑risk short call with back‑month protection; collects skew premium while limiting loss.
Debit: $0.13-$0.15
Max loss: $0.15
BE: Path-dependent
Mgmt: Trim/close if spot>22.2, front‑month IV spikes >+30% or liquidity dries; size off if spot ≈$18.
#2
Put diagonal
Sell 2026-05-29 $17.50 put / buy 2026-06-18 $17.00 put
Bear‑neutral income trade that widens calendar risk vs naked short put.
Debit: $0.07-$0.09
Max loss: $0.09
BE: Path-dependent
Mgmt: Reduce size if spot nears $18 OI cluster; roll/close on rapid IV rise or spot>22.2.
#3
PMCC / LEAPS diagonal
Buy 2026-09-18 $22.00 call + sell 2026-06-18 $22.00 call
Long equity exposure paired with short nearer calls to monetize term‑structure.
Debit: $1.19-$1.45
Max loss: $1.45
BE: Path-dependent
Mgmt: Manage like covered call: buy back short calls on IV spikes, roll if spot>22.2 or pin risk increases.

Risk Alerts

!Sustained rally above $22.18 invalidates sell thesis
!Rapid front-month IV spike or earnings-like move increases short-squeeze risk
!Spot entering ~$18 OI band raises pinning and dealer rehedging risk
How to Use These Reports
This theta reflects the market close on April 20, 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.