SoFi Technologies (SOFI) had good news for investors yesterday. The fast-growing fintech announced that it was getting into the international money transfer business by the end of 2025. 

SoFi members will be able to send funds abroad through the SoFi app. Partnering with Lightspark, an enterprise infrastructure provider that utilizes the Bitcoin Lightning Network, to send and receive money. SoFi believes it is one of the first U.S. banks to offer a blockchain-powered remittances service.

Despite the good news, its shares trade well below where they opened Tuesday morning. The international money transfer business will be another revenue stream for the company. More importantly, it’s another product for members to use, creating stickier, more engaged members. It’s a win/win. 

In Wednesday’s trading, SoFi had eight unusually active options with Vol/OI ratios ranging from a high of 57.71 to a low of 1.36, evenly split between puts and calls. 

Here are three options strategies to use, whether you’re bullish or bearish about SOFI stock.    

The Long Straddle

This strategy involves buying a call and a put at the same strike price and expiration date. The long straddle is a bet that volatility will pick up in the future, but you’re not sure in which direction.

The only long straddle available from the eight unusually active options is the Nov. 21 $20 call and put.

The net debit for the two options is $5.98, or 26.55% of its closing share price of $22.52. To make money here, SOFI stock must move up 15.4% or down 37.7% in the next 93 days. 

The last time SOFI stock traded at $14.02 was in early June. It’s unlikely to fall this much over the next three months unless it reports poor earnings before expiration. Last year, SoFi reported third-quarter earnings on Oct. 29, so it’s possible, but unlikely, for the share price to fall by nearly 38%. 

However, SoFi reported excellent Q2 2025 results at the end of July, suggesting that its business continues to get stronger, making a move to the upside much more likely, hence the 39.3% profit probability. 

The Long Strangle 

This strategy involves buying a call and a put at a lower strike price. Both have the same expiration date.  The long strangle, like the long straddle, is a bet that volatility will pick up in the future, but you’re not sure in which direction.

Three of the four put options from yesterday’s unusual options activity expire on Sept. 19 in 30 days—the strike prices: $17.50, $19.50, and $20.50.  There is only one call option expiring on Sept. 19, the $24.50 strike. 

There are several pros and cons to doing a long strangle with a wider spread between the call and put strike prices. Further apart, they’ll cost you less, and since the maximum loss is the cost of both the call and put, you have less capital at risk. 

However, on the downside, you’ll need a bigger move over the next 30 days to profit from this bet, which lowers the odds of making money, but if the big move happens, you’ll generate a higher return. 

Inversely, doing a long strangle with a closer spread will cost you more, but the move needed to break even or make money is smaller. It’s a tradeoff. 

Referring back to the table earlier with the eight unusually active options, the $17.50 put expiring on Sept. 19 had an ask price of $0.19, the $19.50 put had an ask price of $0.43, and the $20.50 call had an ask price of $0.68. 

Given the $0.81 ask price for the $24.50 call, the net debits are $100, $124, and $149. The net debits as a percentage of yesterday’s closing price of $22.52 are 4.44%, 5.51%, and 6.62%, respectively. 

The Barchart Technical Opinion is a Strong Buy, indicating a very good chance that SOFI stock will continue to move higher in the near term. Based on this bullish indicator, I would consider the put strike that needs the lowest percentage move to break even.  

That would be the $17.50 put, which needs a $2.98 move (13.2%) to breakeven [$24.50 call strike price + $1.00 net debit - $22.52 closing price]. Note, this means that the breakeven price on the downside is $16.50, or 26.7%. That’s far less likely to come to fruition.    

The Bull Put Spread

This strategy is a bet that the share price will increase in value. It involves selling a put option and buying a put at a lower strike price. Both have the same expiration date. The bet has a limited profit and loss. 

Based on yesterday’s three unusually active put options, you have three possibilities: sell $20.50 put / buy $19.50 put, sell $20.50 put / buy $17.50 put, and sell $19.50 put / buy $17.50 put.

The net credit (maximum profit) of selling the $20.50 put and buying the $19.50 put is $21. [$20.50 put bid price of $0.64 - $19.50 put ask price of $0.43]

The net credit (maximum profit) of selling the $20.50 put and buying the $17.50 put is $45. [$20.50 put bid price of $0.64 - $17.50 put ask price of $0.19]  

The net credit (maximum profit) of selling the $19.50 put and buying the $17.50 put is $23. [$19.50 put bid price of $0.42 - $17.50 put ask price of $0.19]  

The maximum loss for the three bull put spreads are $79 [$20.50 put strike - $19.50 - net debit], $255 [$20.50 put strike - $17.50 put strike - $45 net debit], and $177 [$19.50 put strike - $17.50 put strike - $23 net debit], respectively.  

Which would you play? 

I would go with selling the $20.50 put and buying the $19.50 put, which has the highest maximum profit percentage [maximum profit divided by maximum loss] of 26.6% and the lowest risk/reward ratio [maximum loss to maximum profit] of 3.76 to 1. 

Lastly, its breakeven is $20.29 [$20.50 put strike - $0.21 ask price], 9.9% lower than yesterday’s closing price.