SoFi CEO Spends $1M on Shares as Options Volume Reaches 5M Contracts
SoFi trades at $18.36, down 29.7% YTD from its $32.73 November peak, with 3.6M calls and 1.3M puts traded in ten days. CEO Anthony Noto purchased 56,000 shares at $17.88 for about $1 million, lifting his stake to roughly 11.7 million shares.
1. Options Trading Activity
Over the past ten days, SoFi has seen 3.6 million call and 1.3 million put contracts traded, ranking among the highest-volume names and driving its 50-day put/call volume ratio to 3.31, the highest annual reading on major U.S. exchanges.
2. Insider Purchase
On March 2, CEO Anthony Noto acquired 56,000 shares at $17.88 apiece, spending roughly $1 million and raising his total stake to about 11.7 million shares; the purchase was disclosed under Section 16 but lacks clarity on any 10b5-1 trading arrangement.
3. Technical Trend
SoFi's shares peaked at $32.73 on November 12 and have since fallen 29.7% year-to-date, trading at $18.36 in a downtrend channel below $20, with only three weekly gains since the November high.