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SOFI

SoFi Technologies, Inc.Close $18.83EOD only
Max Pain
$18.00
Next expiry Apr 24, 2026
Expected Move
±$1.01
5.4% from close
Price Gap
-0.83
Distance to max pain
IV Rank
50
Middle-high premium
P/C OI
0.53
Slightly call-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Apr 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
Apr 21, 2026 close
SOFI Theta Report
Analysis based on market close April 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness5 / 10
Sizing: Conservative
Primary: Short-dated defined-risk credit spread or iron-condor with bought wings (avoid naked sells)
Invalidation: Spot moves >3% intraday toward break of $16.5 or IV spike >+20 vol points on near dates, or concentrated assignment events at $18
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.0% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Extreme front-week put IV (>100%) vs VIX; near-term tail premia are overpriced relative to index vol, making naked premium-selling unattractive.
Favorable?
No

Term structure: Very steep front-week skew that compresses beyond month; long-dated skew pockets remain.

📌Max-pain cluster at $18 across near expiries supports pinning
⚠️2d put IV spike (>100%) signals acute tail and assignment risk — avoid naked shorts
🛡️Prefer defined-risk structures with purchased protection to limit margin/assignment exposure

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+127.4M)

Gamma flip: ~$15.00 — Approx — based on put OI concentration of 70,836 (21.3% below spot)

OI concentrations: Put OI concentrated ~21% below spot (~70.8k) with stacked interest at $18 across expiries.

Verdict: High pin and assignment risk into near expiries; concentrated strikes raise probability of pin and early assignment — plan rolls early and size for potential margin spikes

Premium Opportunities

#1
Put credit spread
Sell 2026-05-22 $17.00/$15.00 put spread
Sell 2026-05-22 17/15 put spread (entry 0.35–0.42). Defined risk, skips earnings week and reduces assignment/gamma exposure.
Credit: $0.35-$0.42
Max loss: $1.58
BE: $16.58
Mgmt: Size small, close or roll early if SOFI <16.5, IV spikes +20 vol, or spread reaches 50–75% of max gain; take full credit near expiry.
#2
Iron condor
Sell 2026-05-22 $17.00/$15.00 put wing and $22.00/$25.00 call wing
Sell 2026-05-22 17/15 put wing and 22/25 call wing (entry 0.68–0.84). Keeps wings outside $18 pin zone.
Credit: $0.68-$0.84
Max loss: $2.16
BE: 16.16 / 22.84
Mgmt: Tight size, widen/roll wings if price trends toward a wing, close if IV +20 or concentrated pin risk increases.

Risk Alerts

!Near-term put IV >100% — elevated tail and assignment risk
!Max-pain at $18 across expiries — high pin concentration
!Gamma flip ~15.0 — nonlinear sensitivity below $16.5
!Early-exercise/assignment and roll risk due to concentrated short-dated puts
!Potential for sudden margin increases if forced to cover/roll
How to Use These Reports
This theta reflects the market close on April 22, 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.