SoFi Re-Entry Point
$SOFI
SOFI 0.00%↑ pulling back today followings its earnings report. It’s still modestly up from this last post -
More importantly, I think it’s providing an entry point on this pullback. Risk can still be managed against $9, which represents the AVWAP from IPO. The stock is only up a modest 4% year to date. I’m selling $9 puts expiring in January. This allows me to collect some income, puts my cost basis on shares below my $9 downside level, and provides some cushion if the sell-off becomes a multi-day event (though the stock has put in quite a hammer at time of writing)
