🟢 Taking a look at the options market, it looks like the big boys want to hold $19, typically so they don’t have to pay short investors and can keep the $$$.
Does it always hold? No.
But with Sofi they do a good job of… lets say… curbing price moves 😛
It is Friday so this number may change by Monday, but looking at next weeks open interest, most of the strike volume is above todays price.
Most of this short volume dies away at the end of Feb so given market makers positioning and potential closing of shorts I think a fall much lower would be hard to hold for long periods so im not sure how much more dip we might be able to get on this one….. and that makes me sad.
Of course nothing is ever set in stone and this data changes daily but it gives a good idea of short and long term sentiment. Top tip…. If the institutions are betting big… generally they will take the stock price where they want, when they are ready.
And I do know institutional holders are using this to fill their bags again. Ill put that chart in the comments below too.
The options chart is at the top of the page.
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@JodySlaney with CISI Lvl 3 Wealth & Investment Management
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The views expressed above are my personal opinion and do not constitute investment or financial advice. Please remember that your capital is at risk, and past performance is not a reliable indicator of future results.