thetaOwl
HomeOptionsSOFIReports

SOFI

SoFi Technologies, Inc.Close $19.50EOD only
Max Pain
$17.50
Next expiry Apr 24, 2026
Expected Move
±$1.02
5.2% from close
Price Gap
-2.00
Distance to max pain
IV Rank
39
Middle-high premium
P/C OI
0.52
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Apr 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
Apr 20, 2026 close
SOFI Theta Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Sell short-put spread (25–35 delta short, 40–60 delta long) 21–45 DTE to collect rich front-week put premium; adjust strikes to avoid hard assignment
Invalidation: Break below gamma flip ~$15 or rapid VIX spike >30 eroding premium bid or realized vol > implied vol for >1 week
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.6% from MP; +0.5 VIX 20

IV Environment

IV Regime
High
IV vs VIX
Implieds rich (avg IV ~77 vs VIX 19.5); front-week puts especially elevated
Favorable?
Yes

Term structure: Steep near-term skew (front-week put IV >> calls) that mean-reverts beyond 45 DTE; short-dated skew raises roll cost

⚠️High IV + bullish dealer flow supports premium collection into pin levels
📌Max-pain cluster at $18 across near expiries increases pinning and short-dated roll/assignment risk

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+122.4M)

Gamma flip: ~$15.00 — Approx — based on put OI concentration of 70,809 (20.3% below spot)

OI concentrations: Put OI concentrated ~20% below spot with strong OI at $18; call wall $20–25

Verdict: Elevated pin risk — dealer GEX positive (+$122M) favors pinning; concentrated short-dated OI + steep skew increases assignment and margin exposure for short put sellers, esp. around expiries/earnings; plan roll/hedge horizons accordingly

Premium Opportunities

#1
Put credit spread
Sell 2026-05-15 $17.50/$15.00 put spread
Collect rich front‑week premium (24 DTE) consistent with primary sell‑put‑spread bias; defined risk 1.82 vs credit ~0.60–0.68, gamma buffer above $15.
Credit: $0.56-$0.68
Max loss: $1.82
BE: $16.82
Mgmt: Watch $18 invalidation; if price drifts toward $17–18 or realized vol spikes, roll wider/distant or buy back to cap loss; avoid holding into major gap risks or VIX>30 events.

Risk Alerts

!Concentrated $18 pin across multiple expiries
!Gamma flip near $15 — accelerated downside if broken
!Short-dated skew and concentrated OI raise roll and assignment risk around near expiries and earnings
!VIX spike/tail gap could invalidate premium bias
How to Use These Reports
This theta reflects the market close on April 21, 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.