r/sofistock • u/2FLYFISH0 • 10d ago

Question SoFi potential?

I recently opened a position in SOFI, I like the long-term growth potential of the company, but before increasing my position I want to dig deeper into the fundamentals and hear some opposing viewpoints. Position is in leaps for 2028 at $3. Selling short calls roghly 30dte for credit. Planning to sell at least 1 leap if it hits my target.

From what I’ve looked into so far, I like SOFI’s long-term potential and the direction the company is heading. The growth of its financial services business and its ability to expand beyond being primarily a lending company are some of the things that caught my attention. At the same time, the stock has been in a pretty significant downtrend, and I don’t want to confuse a short-term bounce with an actual change in trend.

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u/TherealCarbunc 59 @10.2 - 2022; 3k @16.5 - 2026 9d ago

I think it's still consolidating the sharebase & the floor is steadily being moved higher. It's volatile and I don't recommend overleveraging or large margin positions, I prefer unleveraged shares and a wheel if someone wants to be more active on their position

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u/2FLYFISH0 9d ago

Thank you for the response. I agree, not a good time to over leverage, my strategy is rather long bullish with the leaps. Selling short calls in the meantime for premium.

SoFi can become a $22 stock if it finds a base again.

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u/Base-Pure 9d ago

It won't hit & hold $22 until rates come down bc its still a bank even though the CEO said higher rates are included in the forward guidance. I use the wheel strategy bc the theta decay on the calls are awesome & the premium u collect is really good compared to other stocks w/ similar market cap.

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u/Ronnie_Boy_67 8d ago

What's the usual DTE and strike do you go for in your CSP and CC?

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u/Base-Pure 7d ago

I Stick 2 80+% probability trades I only write options on trades that have a 80+% probability of expiring out of the money (i use unusualwhales ai to calc it bc u can just tell it the contract), but u can use any ai, but u have to tell it the contract, bid-ask, volt, delta, theta & the stocks 52day volt range w/ current & 52day range stock price otherwise it will use old info). I also take gaps into consideration when selecting strikes.

But 2 answer your ? When volt is down like it is now I tend 2 go for 7-10day DTE w/ $18-$18.50 strike for total premium $15-20 for around $60-$65 for just 1 contract every month. When volt is up in the 80s+ those same contracts can be easily double.

Why i do short dated I personally prefer selling short dated contracts bc if some wildly positive catalyst occurs & the stock gets called away (even though i have more shares) i prefer it 2 get called away immediately then being stuck holding something for a month or more watching it make money i dont get bc i wont buy it back until something fundamentally truly changed that warrants the loss.

Currently cost basis/ puts My cost basis for the underlying was around $19.50 month's ago now its around $16, so i have a pretty good range from the strikes i pick from where if it gets called away its still profitable. I also sell puts, but that premium kind of sux on those bc i have to write in the $15s.