Shares of SoFi Technologies Inc (NASDAQ:SOFI) tanked more than 7% in Thursday’s extended trading, after management cut guidance in response to the Biden administration’s decision to extend the pause on student-loan payments till August.
On CNBC's "Options Action," Mike Khouw of Optimize Advisors said the stock traded around two times the average daily volumes on Thursday.
“The bulls won the day,” with calls outpacing puts by around 2:1, he added.
Check out other stocks making big moves in the premarket.
There were buyers of 24,000 of the April 8 weekly 8-strike calls at an average price of 18 cents per contract, Khouw mentioned. These buyers are betting that the stock will “rebound above that $8 strike price” by Friday’s close, he added.
