SoFi Joins Tesla, Nvidia in Three Most Active Stock Options
$SoFi Technologies Inc.(SOFI)$
Shares of SoFi advanced as much as 8.6% to 420.89, their highest level since 2021, after the company said Tuesday that its users can now invest in private funds with exposure in closely-held companies across artificial intelligence, machine learning, space technology, consumer products, healthcare, e-commerce and fintech.
The stock rally bolstered the appeal of SoFi's call options, fueling increased trading. By 1:04 p.m. in New York, more than 517,800 call options changed hands, surpassing the 20-day average of 317,705.
Total volume, including put options, reached 723,400 contracts so far, compared with the average 451,070. That puts SoFi on course to be the third most active stock option, ahead of $Amazon (AMZN.US)$, $Apple (AAPL.US)$ and $Robinhood (HOOD.US)$ .
Private funds have helped closely-held companies gain access to capital without going public, allowing firms like OpenAI to grow into the AI behemoth that it has become. Last week, Robinhood launched stock tokens in the European Union, giving its users access to companies like OpenAI. Shares of Robinhood climbed as much as 13.5% that day.
OpenAI later said Robinhood's stock tokens don't represent equity in the company, according to a CNBC report.
Call options that give their holder the right to buy SoFi shares at $21 by Friday attracted the heaviest trading, with volume more than doubling to 49,840 contracts. That's almost quadruple the open interest. The price of that contract climbed 78% as Tuesday's stock gains bolstered the odds that the call option will be in the money before it expires in three days.
The price of that call option is just over $1 above the current stock price of $19.815.
@TigerStars @CaptainTiger @TigerWire @Daily_Discussion @Tiger_chat @Tiger_comments @MillionaireTiger
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- andy66·07-09Wait until it rises by 5 percentage points and then sell it to the buyer.LikeReport
- MosesMoses·07-09This partnership could be a game changerLikeReport
- JudithGrant·07-09LOAD UP! 🚀LikeReport