Sell Put Option Trade Call on SOFI
"Next trade I'm going to make is SoFi stock. I like SoFi stock a lot. I've been invested in it for a very long time, preaching about getting into SoFi at a 9 billion valuation and saying it's going to be a 30 billion company. Right now, it's down 13%, which makes it a great candidate for selling puts. I would love to own it at 25. Heck, I'm happy to own it at 26. So, you see I sell put option right here, 26. That is going to be another massive return."
The trader is executing a put-selling strategy on SoFi (SOFI) after noting a 13% drop. He emphasizes his long-term bullish view by stating a preference to own the stock at 25-26, thereby taking advantage of the discount and generating premium income.
Options Entry Strategy on SoFi via Staggered Puts
"So right now, I would be willing to get in to this stock for $26, which would be right here. This would be a very good average price to have on SoFi between 25 and 26. So, if we want an average price of 25 to 26, then we could potentially sell a 27 and get enough premium to give us that average price. Me personally, I think there could be a little bit of downside, but I think it is going to run. So, what I'm going to do is I'm going to stagger my setup. I'm going to sell a $27 put. I'm going to sell some 27 puts, and I'm also going to sell some $26 puts. I'm going to split them in half. This way, our average is going to be between the two."
The speaker outlines a specific trade setup on SoFi using a wheel strategy that involves selling staggered put options at $26 and $27 to achieve an average entry price between 25 and 26. He indicates a bullish view on the stock, expecting it to run higher despite minor downside risk, and details the plan to collect premium while building a favorable entry position.
Buy SoFi Technology on a Dip to $25-$23
"Beginning with stock number one, which is going to be SoFi Technology, stock ticker Sofi. And I know SoFi has the word technology in it. However, it's a financial company first and foremost with a digital twist. Taking a look here at the chart, you can see SoFi shares broke the 50-day moving average recently. And the next level of support below is the 100 day moving average, which sits around $25 per share, which I believe would be a great buying opportunity to start a position in. Then if the shares continue to fall, I believe $23 per share is where I would go in a lot more heavily."
The speaker highlights SoFi Technology as a buy on a dip, suggesting initiating a position at around $25 per share and adding more if the price falls to $23, citing key technical support levels and the company's strong fundamentals.
Sell a $26 Put Option on SOFI Using the Wheel Strategy
"So, I'm going to go to sell put option and I'm going to go for 30 days out roughly. Okay, 35 days in this expiration December 19. I personally love traditional expirations. Traditional expirations are the third Friday of every single month. Now, this expiry right here is going to be roughly one month out. And as you can see here, the premiums for SoFi are really nice. So, I'm going to expand the $26 put option here."
The speaker outlines an actionable trade call by recommending a sell put option on SOFI at a $26 strike. The trade is structured with an approximate 35-day expiration as part of the wheel strategy to buy the stock at a discounted price while generating premium income.
SoFi Launches Crypto Services
"Uh, it's a big day and a big milestone. We've wanted to be a one-stop shop for all your financial services needs, and one of the holes for the last two years was in cryptocurrency. In March of this year, the OCC came out with an interpretive letter allowing banks like SoFi to offer cryptocurrencies. So this morning, we're launching as the only national bank with the opportunity to buy, sell, and hold cryptocurrencies like Bitcoin, Ethereum, and Solana."
The speaker outlines SoFi's significant new initiative to offer cryptocurrency services, positioning the bank as a one-stop digital financial platform. This product expansion fills a gap in their offerings and differentiates them from traditional banks, with a regulated and integrated banking approach.
SoFi Short-Term Trade Call with Defined Stop Loss and Target
"Let's start off with the short-term view. I want you guys to be aware of some bullishness and bearishness. We are climbing nicely off of this recent dip. However, we have recently, just today, established what could be a double top. Double tops are bearish. They get confirmed if the valley of the two peaks gets crossed. And so, the real danger zone for SoFi moving forward is $28. I had mentioned that in a recent video where 2750 was needed to hold as support. Now, since we popped $3, you can see that I've raised the stop loss to 30 bucks. And if we can close a candle above 3204, we're going to squeeze to $36."
The speaker provides a short-term trade call for SoFi, noting that while the stock is trending upward off a recent dip, a double top pattern has emerged. He emphasizes a danger zone at $28 and confirms his raised stop loss at $30. A breakout above the specified level could push the price to $36, suggesting a bullish but cautious trade setup.
SoFi November Pick Trade Call with Crypto Catalyst
"Now, I'm going to announce today a stock that I have greater than 5050 conviction to make my November pick. It's SoFi. It has been a great stock to hold in the months of August and September, and I think that in November it's looking really, really good. You need to have a stop-loss, as the stock is trading near key structural levels, and if it can close the weekly above the 32 level, we are on to 3435 next. SoFi is officially back in the crypto game, setting up a strong foundation for future price expansion."
The speaker names SoFi as his November pick, highlighting its strong performance in recent months and its re-entry into crypto trading as a key catalyst. He advises using stop-loss orders based on structural levels and expects an upward move with a price target around 345.
Prefer Buying SOFI Over Celsius
"But if it was me, I would be looking at other stocks in the market like you know SoFi sold off. I would buy SoFi over Celsius any day and you're getting much better business model, not as much competition, not as small of margins and you don't have a company that's dependent on acquisitions."
The speaker explicitly favors buying SOFI instead of Celsius due to its stronger business model, lower competitive risk, and healthier margins. This trade call implies a bullish outlook for SOFI as a better investment opportunity compared to Celsius.
Initiate Covered Call Trade on SOFI at $31 Strike
"The second trade that I would be looking at personally because again I am bullish on SoFi: I think longterm this stock is a $50 stock and that they are going to continue to execute with great management and systems in place. If you buy 100 shares and then right away you sell a call option, making it a covered call position, you can also run the wheel strategy. I would select an option around the 31 strike with an implied volatility that is appealing, as the delta is around 37. If SoFi goes to 31, you will make more money in this scenario than the sell put example, making this covered call trade extremely profitable."
The speaker presents a covered call trade on SOFI by buying 100 shares and selling a call at the 31 strike. Citing strong implied volatility and technical factors, the call aims to generate premium income and enhance returns if the stock moves to the target price. This trade complements the sell put strategy as part of the wheel strategy approach.
Execute Sell Put on SOFI at $27 Strike
"Well, given that SoFi has pulled back from like $31.5, not even that much of a pullback to be honest. But now it's sitting at a really interesting entry point again because it has had a small bounce despite problems in the market and has had a nice support, a nice bounce right on its moving average. So technically speaking, amazing. Fundamentally, I love the stock as well for the reasons that I mentioned as well as their strong cash flow. So to me, this is a perfect entry in my opinion. This is looking very very strong. So I want to come in right here at the 27. I'm going to show you how much money you can really collect here by selling a put."
The speaker outlines a trade call to sell put options on SOFI at a 27 strike, leveraging technical support and strong fundamentals for a discounted entry. The strategy is highlighted as a way to buy the stock at a lower price with an attractive premium yield, aiming for an approximately 7% return in 30 days.