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SoFi Technologies Shares Rise 2.47% to $18.28
Cboe data suggests bullish flow in SoFi Technologies (SOFI), with shares up 44c, or 2.47%, near $18.28. Options volume roughly in line with average with 199k contracts traded and calls leading puts for a put/call ratio of 0.37, compared to a typical level near 0.45. Implied volatility (IV30) is higher by 1.6 points near 47.94,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.55. Put-call skew flattened, suggesting a modestly bullish tone.
SoFi and Payward Announce Strategic Partnership
SoFi Technologies and Payward announced a strategic partnership designed to enhance banking, payments, liquidity, and digital asset markets. Through the partnership, Payward will leverage SoFi's Big Business Banking capabilities, join the SoFi Exchange Network and list SoFiUSD on its multi-asset trading platform. SoFi will also use Kraken Prime, Payward's full-service prime brokerage solution, as an additional source of digital asset liquidity, with qualified custody capabilities available as the relationship expands. By joining SEN, SoFi's real-time settlement network, Payward unlocks new pathways for institutional clients to clear and settle U.S. dollar transactions 24 hours a day, seven days a week. Extending settlement beyond traditional banking hours also enhances the money movement process, allowing clients to move money and manage liquidity on an always-on schedule. The partnership also connects Kraken, one of the world's largest digital asset platforms, to SEN. Kraken institutional clients will be able to use SEN's real-time settlement rails to move USD and manage liquidity across both networks at any hour, extending settlement beyond traditional banking hours for entities that already operate around the clock.
SoFi Technologies Shares Slightly Down, Active Options Trading
Moderately bullish activity in SoFi Technologies (SOFI), with shares down 59c near $17.29. Options volume roughly in line with average with 133k contracts traded and calls leading puts for a put/call ratio of 0.53, compared to a typical level near 0.45. Implied volatility (IV30) is higher by 0.1 points near 46.46,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.51. Put-call skew flattened, suggesting a modestly bullish tone.
Cboe Data Shows SoFi Technologies Shares Up 5.75%
Cboe data suggests bullish flow in SoFi Technologies (SOFI), with shares up $1.03, or 5.75%, near $18.95. Options volume more than double the daily average with 534k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.45. Implied volatility (IV30) is higher by 3.3 points near 49.74,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.59. Put-call skew flattened, suggesting a modestly bullish tone.
Nasdaq Leads Gains as Investor Confidence Rebounds
Stock futures are mostly higher as investors begin the week with the Nasdaq leading gains on renewed strength in AI and semiconductor stocks. The AI trade is getting another boost after reports that Anthropic expects revenue of roughly $190B to $200B in 2028, reinforcing investor confidence in the commercial potential of generative AI.The implied probability of a September rate hike is down to roughly 30% from around 50% a week ago. The combination of softer inflation and a weakening labor market is increasingly giving investors reason to expect the Fed to remain on hold rather than tighten policy, although the latest rise in oil prices could complicate that outlook.Oil remains the principal counterweight to the bullish equity backdrop. Brent crude is around $89 a barrel, after rising about 6% last week, as the conflict involving Iran and continued uncertainty around the Strait of Hormuz keep supply risks elevated. Higher energy prices could eventually feed back into inflation expectations and make it more difficult for the Fed to ease policy.This week's focus will shift toward retail earnings and the Fed, with Walmart, Home Depot and Target among the major companies reporting. Investors will also receive the Fed's July meeting minutes Wednesday, which could provide additional clues about the debate between policymakers who favor maintaining or raising rates and those who see a weakening labor market as justification for eventual easing.In pre-market trading, S&P 500 futures rose 0.11%, Nasdaq futures rose 0.44% and Dow futures fell 0.23%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Alibabaup 1.5% after Reutersthat the company is set to sell its entire stake in Lingxi Games to Trustar Capital for more than $2BSoFi Technologiesup 1.6% after Piper Sandler initiated coverage of the stock with an Overweight rating and $22 price targetUP AFTER WHITE HOUSE URGES APPLE NOT TO BUY CHIPS FROM CHINA -SanDiskup 3.3%Western Digitalup 2.5%Micronup 2.7%Seagateup 2%UP AFTER EARNINGS -Freightosup 16.3%H Worldup 8%LOWER -EyePointdown 70% after reporting that the primary endpoint was not achieved in its LUGANO trialL3Harris Technologiesdown 2.5% after CEO Christopher Kubasik stepped down amid a conduct review
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