SOFI has been one of the most popular stocks among options traders
Consumer lending stock SoFi Technologies Inc (NASDAQ:SOFI) is up 2% at $12.96 at last glance. Shares have only finished lower once since April 22, and announced upbeat fiscal second-quarter results last week. Options traders have been chiming in over these last two weeks, with sentiment leaning bullish.
The security was among the most popular names among options traders in the past 10 days, according to Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest options volume within that period. SOFI saw over 2.9 million calls and 1.2 million puts traded in this period, with most activity at the May 15 call.
Interestingly enough, short interest has been building over the last couple weeks despite strong chart performance, now representing 13.8% of the stock's available float. It would take shorts nearly three days to cover, at SOFI's average pace of trading.
For those looking to weigh in, it's worth noting that the $14 level appears to be keeping a cap on gains. Year to date, the equity is down 15.6%.
