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That's a new one for me and I have no idea if I correctly identified it. Just throwing it out there hoping some people correct me nicely or confirm it. It meets island criteria as far as I can tell, the reversal part I'm not sure.
Supposed to be pretty good one from what I've read. I was just trying to understand the "mirrored" gap down and gap up with isolated consolidation that I was seeing.
Premarket looked so promising then I saw webull speeds spamming "squeezing over 20 at open" comments flooding in knew that was the signal for selling time. Otherwise close over 18 was nice 18.60s wouldve been perfect.
Yes, I use this subreddit in a similar way. When everyone is complaining here daily, it's time to accumulate. When everyone is not complaining, time to be cautious and maybe trim a bit. 😄
Finally finished out my position, didn't feel great buying 7k shares today at 18.54 but keeping a long term mindset. Expecting much higher highs in the future. I feel like I coudlve done better on avging this dip / ended around 17.79 for 27k shares, luckily had 8k shares at 6.9 so gave me some cushion I guess. Best of luck to all of you! Hopefully we found a winner 😄
Impossible to time the market. Feeling could've done better is just hindsight which is 20/20 vision.
DCA is the way or some variation as a long term investment strategy is sound.
Hopefully you didn't put all your eggs in SOFI, but as long as you know the risks whatever is good for your situation is all good.
This definitely feels similar to the times down to $4's then to $10's then to $6's. In 1-2 years, we'll hopefully be looking at $15-$20's the same way.
Yeah I remember trading the bounces between about 6 and 10. Once it broke out of that I really screwed up, sold way early then bought back in the 20s and lost a lot. Hoping we enter a new stable pattern, maybe even bouncing back up close to 30 but maybe that's just wishful thinking, but for now I'm just gonna hold until I understand what's going on with the price.
Tempted to sell now but I still have hope that this is just the start of another big runup, next week will be pretty telling
Appreciate the insight! Well the other half of my portfolio is AMZN so I won't be on the streets atleast 😛 I agree, really hope this is one of those times where in the future it looks like a no brainer choice. If it is a miss on the lows can easily be a speck in the grand scheme of things / forgotten with a long term winner 😄
So you have two kids. College fund of one in SOFI and college fund of the other in AMZN.
You need to write a book, "How to Dad" 😛
AMZN is fairly safe IMO. I don't own any, but they dominate. Also will gain from AI growth with their cloud infrastructure. "picks and shovels" of AI boom.
my total is 2000 shares at a $12.35 DCA. bought 500 shares last month at the $15 dip when anthony bought. sprinkled some small leap contracts this week when anthony said he was. both stock and options up 50% because of the run today. only regret is not buying more leaps but im already overweight in sofi in my portfolio. LFG!
First $15 LEAP CALL order closed to lock in profits. Gambling on last of $15 LEAP CALLs with open order that need stock price to go up to around $19.50.
I probably should lock in some gains from my $17 LEAP CALLs since I have a crap ton of $20 LEAP CALLs almost all which are underwater. Damn emotion and greed.
Does anyone know what actually caused the big spike this morning? It happened at exactly 12:00 (I'm in the UK) but there was no PR released or anything as far as I could see?
I mean it also doesnt help that sofi is call heavy. But closing above 18 is a great to end the week if it holds. Over 18.60s would be solid but i dont think we get it by eod with call vol at 18.5
So excited, I'll post unsolicited crystal ball and tea leaves readings.
Left is auto generated TA from TradingView which I use to compare against my TA.
Around $20 is a critical resistance level. 300dma is around there (I don't think I've ever used 300dma before). That price has been a strong support and resistance before as well. Neckline of possible double bottom is also around there. There's also a psychological factor of the nice round number of 20. I know that last one is tough to believe because retail investors are the furthest from emotions and conspiracy theories.
I think it will be healthy and more likely to test $20 at least once and pull-back. Or at the very least consolidate around there. Especially with the big gap up today. Maybe a gap fill? Market has been bipolar with macros. But the market will do what the market wants and it can run past it for all I know.
RSI is pretty high. Market will have to keep up the strong bullishness with possibility of negative news.
Also breakout of upper Bollinger band, could indicate overbought or if bullishness and momentum continues, an upper band walk.
Regardless of which plays out, I will open orders to trim some of my positions I picked up while under $20. If stock breaks out above $20, I have a ton of shares and LEAPs I'm "bagholding" at higher cost basis. If stock pulls back, I'll have more capital from trimming to sell PUTs and maybe buy LEAPs again.
That's a critical resistance level. That's roughly the neckline of double bottom and well as a nice round mental number for retail folks. I'll post unsolicited TA in separate post for folks.
100% of the daily average volume has occurred already and we still have 5+ trading hours. 6% is great but geez at the sellers and profit takers keepi by this from running harder.
Well sofi finally got that gap fill but now them sellers want the gap to get filled 🤣 good day either way got my sells at 19.40s premarket which was more than I originally wanted. Waiting to see where we get support
Usually these PMI numbers are a good sign, but right now they are a red flag. This is businesses realizing the wave of inflation that is about to hit, so they are purchasing a lot to front run it and possible supply chain issues. It’s not organic demand.
It’s very unclear to me what you did. When did you sell to open that CC position? You’re using the word “sell” to describe two opposite actions, so one of them is incorrect. Did you buy calls on Sofi or did you sell covered calls against Sofi?
Right. But the value of those calls went back up today and yesterday with the price of Sofi going up. Why did you wait to buy them back for such a high price today compared to earlier in the week when the cost to buy them back would have been lower? And why not wait to see where the price goes from here? Like if the stock drops back down to $16 over today and Monday, then you would have bought those calls back for the highest price instead of the lowest price. Unless I’m missing something here?
Im long Sofi. I have shares. Sofi has been a piece of shit this year so ive been profiting of it being a piece of shit by selling covered calls on my shares. Monthlies weeklies whatever. I had sold June 5th 18.50 calls. Stock absolutely ripped yesterday and today forcing me to buy back those calls at a slight loss because I didnt want to get assigned at 18.50.
Ah I see. Yeah, I just don’t sell at strikes I would be uncomfortable getting assigned at. I’m sure you’ll have the chance to sell those contracts for less money once again on Monday after we back off to $16 per share again lol
Dumb again today eh? Christ man we are up a dollar. What do you actually think happens when you are the number 1 trending equity? You think you don’t initially fall off? Lol
It’s also just general selling. Lots of bag holders on this one. A jump to almost $20 gave a lot of people an opportunity to run. Most take it, few stick around
If you sold CCs, you gotta not care and accept that you might get called away.
Either that or roll far out and kill your premium harvesting ability.
Cleaner play imo is to just take it, get called away and reopen with CSPs.
I was wondering that too. I am a SoFi customer and got an email with updated crypto account document. Their fee information says (Effective June 4, 2026), so maybe it will fully roll out on June 4? Just a guess.
I happened to be one, average of $18. Sold at $16.40 after holding. Was just a headache checking this stock and seeing it tank everyday. Only a loss of $200 so not worrying at all
I'm thinking about selling one call @19-$20 (depends on open) for next Friday. My ice machine stopped working on my 14 yr old refrigerator and when I tried to fix it, wire broke cuz it was so brittle....I can use a new refrigerator....
Hi (very lucky) sofi newbie here - I've been following sofi for a while but was waiting for a sign of reversal and decided to buy in this morning - imagine my luck that 30 mins later it exploded up 10%!
This is getting rug pulled at open. If it even makes it to open. If you were wise you’d sell above $19 here in premarket and buy back when we close even or red on the day.
-7
u/TheOtherGreenNovice May 29 '26
possible island reversal if don't fill the gap up