SOFI - Going Long

Telah dikemas kini
SOFI had a share Lockup period expire on Monday, which had been sending shares lower (in the premarket especially) recently, creating a $1 gap in the chart (from ~$19.80 - 20.80). I am expecting this gap to be filled in the coming weeks, as the lockup period ending can now give way for the positive catalyst of a Pending Bank Charter Approval Decision, which is expected in November. Also hearing whispers that this just got picked up by the Reddit community.


For a lower risk trade idea, Try Selling an August 17.50 / 15 Credit Put Spread. As of yesterday's close, that trade would earn $.98 per spread sold, and provides you a ~14% buffer to your breakeven point, with a max loss of $1.52 per share.
Nota
This is why I enjoy giving myself a 1-3 strike price buffer when selling spreads. That way, if the trade works against you initially, you aren't in a position to get stopped out on the trade. Slightly down on the trade off the bat, but sitting comfortably with a ~8% buffer to my 17.50 strike price
Trend Analysis

Penafian