{ "model": "minimax/minimax-m2.7", "started_at": "2026-06-11T13:37:08.914Z", "system_prompt": "You are Wheel Scout — the income/premium-harvest research stage.\n\nYour job is fundamentally different from regular Scout. You are NOT looking\nfor asymmetric (1400% in a year) upside. You are looking for SAFE PREMIUM:\nelevated IV that lets us collect 15%+ annualized yield by selling cash-secured\nputs, covered calls, or strangles at strikes with a real margin of safety.\n\nThe wheel strategy: sell a CSP at a strike where you'd genuinely want to own\nthe stock; if assigned, sell CC against it; collect premium either way.\nYou must verify the trade WORKS BOTH WAYS — assignment is acceptable, not\ncatastrophic.\n\nINVESTIGATION CHECKLIST (cover everything below; stop early only if a fatal\nred flag is found, in which case set verdict='no_setup'):\n\n □ price_history(ticker, 365) — find 200DMA + 52w high/low + recent support\n □ technicals(ticker) — RSI / MACD / volatility regime\n □ fundamentals(ticker) — sanity check: market cap > $1B, ROIC positive,\n no cash-burn / shelf-dilution flags. We're not deep-valuing — just\n confirming this isn't a busted IPO or going-concern.\n □ earnings(ticker) — when's the next print? Reject ANY trade with\n earnings inside the chosen expiry window (IV crush is non-trivial).\n □ edgar_recent_filings(ticker, '8-K', 5) — any material event noise?\n □ options_expiries(ticker) — find 2-3 candidate expiries between 25-50 DTE\n □ options_chain(ticker, expiry, strikes_around=10) — pull strikes around\n current price for each candidate expiry. Note IV per strike.\n □ options_flow(ticker) — aggregate flow direction (huge bullish flow on\n a CSP candidate is fine; huge bearish flow is a warning)\n □ news_for_symbol(ticker, '14d') — any pending litigation, FDA dates,\n regulatory rulings inside the expiry window?\n\nVERDICT VOCABULARY — pick exactly one:\n\n csp_setup — bullish-or-flat thesis. Sell CSP at a strike you'd\n happily own at. Annualized yield ≥15% achievable.\n cc_setup — already-long stock proxy: sell CC at strike at-or-above\n resistance. If-called return ≥12% annualized.\n strangle_setup — IV elevated on BOTH sides, range-bound technicals,\n willing to take both legs.\n no_setup — IV is compressed, premium isn't there, OR a red flag\n killed it (earnings in window, fraud flags, illiquid\n options, anti-signal). PIPELINE STOPS HERE.\n\nOUTPUT FORMAT (strict JSON, output ONLY this object — no prose, no fences):\n\n{\n \"symbol\": \"NVDA\",\n \"company\": \"NVIDIA Corporation\",\n \"investigation_summary\": \"100-300 word executive summary of the income setup\",\n \"verdict\": \"csp_setup\" | \"cc_setup\" | \"strangle_setup\" | \"no_setup\",\n \"confidence_in_data\": 1-5,\n \"structure_recommendation\": \"csp\" | \"cc\" | \"strangle\",\n \"price_context\": {\n \"last_close\": ,\n \"ma_50\": ,\n \"ma_200\": ,\n \"yhigh_52w\": ,\n \"ylow_52w\": ,\n \"from_high_pct\": ,\n \"from_200dma_pct\": ,\n \"rsi_14\": \n },\n \"iv_context\": {\n \"iv_rank_pct\": 0-100,\n \"iv_percentile_pct\": 0-100,\n \"iv_atm_30d\": ,\n \"iv_history_summary\": \"1-2 sentences on whether IV is rich/compressed vs 1y range\"\n },\n \"candidate_strikes\": [\n {\n \"structure\": \"csp\" | \"cc\" | \"strangle\",\n \"expiry\": \"YYYY-MM-DD\",\n \"dte\": ,\n \"strike\": | \"call_strike\": , \"put_strike\": ,\n \"premium\": ,\n \"annualized_yield_pct\": ,\n \"strike_distance_from_price_pct\": ,\n \"strike_vs_200dma_pct\": ,\n \"open_interest\": ,\n \"bid_ask_spread_pct\": ,\n \"if_assigned_basis\": // CSP only\n },\n ... (recommend top 2-3)\n ],\n \"earnings_in_window\": false | { \"date\": \"YYYY-MM-DD\", \"in_dte\": true|false },\n \"anti_signals_present\": [],\n \"competitive_landscape\": \"1-3 sentences on the sector/peers\",\n \"key_risks\": [\"...\"],\n \"sources\": [{\"label\":\"...\",\"url\":\"https://...\"}]\n}\n\nBe ruthlessly skeptical. If IV rank < 40, set verdict='no_setup' — there\nis no premium edge. If earnings is in DTE, set verdict='no_setup'. If\noptions OI < 200 or bid-ask > 5%, the contract isn't real and you set\nverdict='no_setup'. Default outcome is no_setup; an income idea is rare\nbecause most of the time premium isn't sufficient.", "user_prompt": "CURRENT DATE: 2026-06-11. THE YEAR IS 2026.\nDATE RULES — read before writing ANY date:\n - Every option expiry, earnings date, catalyst date, and DTE you state MUST use the year 2026 or later. Do NOT write 2025 dates — your training prior is stale.\n - Every option expiry MUST be a real FUTURE date relative to 2026-06-11. Copy expiries verbatim from options_expiries()/the dossier — never infer a year from memory.\n - Before writing a date, check it: if it is earlier than 2026-06-11, it is WRONG — re-read the live tool output.\n\nSYMBOL: SOUN\nINVESTIGATION TRIGGER: wheel_hunter top-2 · score 63 · IV ~13% · ann yield ~53.9% on $6 P (35d) · OI 4764 · MOS vs 200DMA 46.0%\n\nQUEUE META (from wheel-hunter; verify with tools before relying on it):\n{\n \"price\": 6.68,\n \"candidate_expiry\": \"2026-07-17\",\n \"candidate_strike\": 6,\n \"candidate_premium\": 0.31,\n \"candidate_oi\": 4764,\n \"candidate_iv_pct\": 12.500875,\n \"annualized_yield_pct\": 53.88095238095239,\n \"strike_otm_pct\": 10.17964071856287,\n \"mos_vs_200dma_pct\": 45.97527017992486,\n \"mos_vs_ylow_pct\": 2.915951972555745,\n \"dte\": 35\n}\n\nInvestigate this symbol for premium-collection setup. Find 25-50 DTE\nexpiries, IV-rich strikes with annualized yield ≥15% (CSP) or ≥12% (CC),\nreal liquidity, and a strike margin of safety. Reject if earnings is in\nthe window. Reject if IV rank is sub-40. Output ONLY the JSON object.\nDo NOT include ... reasoning blocks in your final message —\nthey eat the output budget and truncate the JSON.", "completions": [ { "ts": "2026-06-11T13:37:22.054Z", "raw_content": "Let me investigate SOUN for a premium-collection wheel setup. I need to run multiple queries simultaneously to gather all necessary data.\n\nCurrent date: June 11, 2026\nQueue meta shows:\n- Price: $6.68\n- Candidate expiry: 2026-07-17 (35 DTE)\n- Strike: $6 (10.2% OTM)\n- Premium: $0.31\n- Annualized yield: ~53.9%\n- IV: ~13%\n\nLet me start by gathering price history, technicals, fundamentals, earnings, expiries, options chain, and news all at once.\n\n\n\n", "cleaned_content": "", "tool_calls": [ { "type": "function", "id": "625254144", "function": { "name": "price_history", "arguments": "{\"ticker\":\"SOUN\",\"days\":365}" } }, { "type": "function", "id": "591701394", "function": { "name": "technicals", "arguments": "{\"ticker\":\"SOUN\",\"days\":365}" } }, { "type": "function", "id": "684871202", "function": { "name": "fundamentals", "arguments": "{\"ticker\":\"SOUN\"}" } }, { "type": "function", "id": "830155431", "function": { "name": "earnings", "arguments": "{\"ticker\":\"SOUN\"}" } }, { "type": "function", "id": "709616516", "function": { "name": "options_expiries", "arguments": "{\"ticker\":\"SOUN\"}" } } ], "finish_reason": "tool_calls" }, { "ts": "2026-06-11T13:38:51.895Z", "raw_content": "Let me analyze the data. The current date is 2026-06-11.\n\nKey findings:\n1. Price: $6.69 (last close)\n2. 200DMA: $11.08 — stock is ~39% below 200DMA, very oversold technically\n3. RSI(14): 33.1 — in oversold territory but not extreme\n4. Next earnings: August 6, 2026 — this falls INSIDE the 35-36 DTE window for July 17 expiry (earnings on Aug 6 is day 56 from June 11... wait let me check)\n\nCurrent date: June 11, 2026\n\n\nEarnings are scheduled for August 6, 2026. Looking at the available expiration dates, I need to identify which ones fall in that window — July 10 and July 17 both precede earnings on Aug 6, so they'd be safe choices if I'm trying to avoid earnings exposure.\n\nThe queue data shows a candidate with an expiration of July 17 and DTE of 35. Working backward from June 11, that's actually August 15, not July 17 — there's a discrepancy between what the expiry field says and what the DTE calculation indicates. I should verify whether the DTE is being calculated correctly against today's date.\n\nRegardless, earnings on Aug 6 would fall inside a 50-day window measured from today (June 11), so any expiration beyond ~July 26 would expose me to IV crush risk. Both July 17 and August 15 would trigger that earnings flag since they're after the August 6 announcement date.\n\nThe queue shows an annualized yield of about 53.9% with a $6 strike, but I'm noticing something doesn't quite add up when I look at the IV data more closely—the implied volatility percentage seems misaligned with what I'd expect given those premium numbers.\n\n\n\n", "cleaned_content": "", "tool_calls": [ { "type": "function", "id": "422152913", "function": { "name": "options_chain", "arguments": "{\"ticker\":\"SOUN\",\"expiry\":\"2026-07-17\",\"strikes_around\":10}" } }, { "type": "function", "id": "758168486", "function": { "name": "options_flow", "arguments": "{\"ticker\":\"SOUN\"}" } }, { "type": "function", "id": "204781888", "function": { "name": "news_for_symbol", "arguments": "{\"ticker\":\"SOUN\",\"since\":\"14d\"}" } }, { "type": "function", "id": "847679758", "function": { "name": "edgar_recent_filings", "arguments": "{\"ticker\":\"SOUN\",\"form\":\"8-K\",\"recent\":5}" } } ], "finish_reason": "tool_calls" }, { "ts": "2026-06-11T13:39:52.107Z", "raw_content": "Let me analyze the data carefully:\n\n**Price Context:**\n- Last close: $6.69\n- MA50: $7.99 (price below)\n- MA200: $11.08 (massive gap - 39.6% below 200DMA!)\n- 52w high: $22.17, 52w low: $5.83\n- Price down ~31% from year ago ($9.74 → $6.69), and massively from highs\n- RSI: 33.1 — approaching oversold territory\n- MACD bearish, below both MAs\n\n**IV Context:**\nThe queue meta says IV ~13%, but looking at the options chain:\n\n\nI'm noticing something odd with the implied volatility data—the puts show around 12.5% IV which is suspiciously low given we're trading a speculative AI stock with a negative P/E ratio and no earnings history. The calls and puts both have bizarrely low IV readings, which suggests either there's missing data or these contracts aren't pricing properly.\n\nLooking at the actual market mechanics here: SOUN has dropped significantly from its highs over the past year while maintaining high short interest above 38%, and there are active legal proceedings including derivative shareholder lawsuits that add uncertainty. The stock is trading far below both its moving averages, sitting about 40% beneath the 200-day MA.\n\nThe real problem with this setup isn't the fundamentals or positioning—it's that the IV metrics are fundamentally broken. When I try to calculate realistic implied volatility for a cash-secured put on this company given its speculative nature and recent earnings history, I'm getting numbers in the 70-90% range based on typical pricing mechanics, but what I'm seeing in the actual options data is far lower.\n\nLooking at the chain more carefully, the put IV is only around 12.5%, which seems artificially depressed—likely because the bid/ask spreads are zeroed out or there's no real market being made. This creates a false signal that IV rank is low when it's probably not, so this setup gets flagged as invalid.\n\nBut I need to look at what's actually available in the July expiry. The $6 put has 4,764 open interest with a premium of $0.31 and only about 10% out-of-the-money, which gives roughly a 5% return if assigned—decent for 35 days but not exceptional.\n\nThe annualized yield comes to around 50%, which looks impressive on paper. The problem is that bid/ask spreads are showing as zero, which suggests these aren't real executable prices but rather stale data from yfinance. Plus IV rank at 12-13% doesn't meet my threshold of 40 or higher for a legitimate setup.\n\nI should check other expiry dates to see if there's better liquidity elsewhere in the options chain.\n\n\n\n", "cleaned_content": "", "tool_calls": [ { "type": "function", "id": "381365134", "function": { "name": "options_chain", "arguments": "{\"ticker\":\"SOUN\",\"expiry\":\"2026-07-10\",\"strikes_around\":15}" } }, { "type": "function", "id": "828907751", "function": { "name": "edgar_filing_text", "arguments": "{\"filing_url\":\"https://www.sec.gov/Archives/edgar/data/1840856/000121390026061610/ea0292095-8k_sound.htm\",\"max_chars\":10000}" } } ], "finish_reason": "tool_calls" }, { "ts": "2026-06-11T13:42:21.949Z", "raw_content": "Now let me compile all the data and make a final assessment:\n\n**KEY FINDINGS:**\n\n1. **Price History:**\n - Last close: $6.69\n - 52-week high: $21.40 (Oct 2025)\n - 52-week low: $5.83 (recent, late May 2026)\n - MA200: $11.08 — price is 39.7% below 200DMA\n - MA50: $7.99 — price is 16.3% below 50DMA\n - From 52w high: -68.7%\n - The stock collapsed from ~$21 peak to ~$6.70 now (down ~70%)\n \n2. **Technical Analysis:**\n - RSI(14): 33.1 — in oversold territory but not extremely oversold (<30)\n - MACD: bearish, -0.231 histogram, last cross was bearish 6 bars ago\n - Price below both MA50 and MA200\n\n3. **Fundamentals:**\n - Market cap: ~$2.9B (adequate for liquid options)\n - Negative earnings with forward P/E of -55.72, so it's not yet profitable\n - Still burning cash operationally at $105M annually and losing money on EBITDA\n - Revenue is growing well at 51.7% YoY but profitability remains elusive\n - Cash position of $215.6M against minimal debt looks manageable short-term\n\n4. **Earnings & Expiries:**\n - Next earnings: August 6, 2026 — I need to map this out across the available expiration dates from June through July to see which ones fall within or around that window\n - The July 17 and July 24 expirations are the only ones before earnings hit, with 35-42 DTE respectively\n\n5. **Options Data (July 17 expiry):**\n - Stock currently at $6.66-$6.69\n - Put option at strike 6 shows IV around 12.5% and annualized yield of roughly 53%, but I'm noticing something odd about the pricing data that needs clarification\n\nLooking more closely, there's a critical issue with how these options are actually priced — the bid/ask spreads are showing as zero across multiple strikes on both July 10 and July 17 expirations, which indicates either extremely wide or non-existent liquidity in this contract. The open interest of 4,764 suggests there is some trading activity, but those pricing anomalies are a red flag that makes me hesitant about the reliability of the yield calculations.\n\nThe earnings report on August 6th falls after the July 17 expiration, so that's not a timing concern here.\n\nWhat's actually driving the bearish outlook is the massive short interest at nearly 38% and the whale positioning — there's over $8.8 million in put notional concentrated at the $10 strike with an 80% volume-to-open-interest ratio, suggesting sophisticated traders are heavily positioned for downside moves on this beaten-down AI name.\n\nThe governance story adds another layer of concern: a recent bylaw amendment stripped away retroactive cure provisions that could have protected management from derivative lawsuits, which is creating uncertainty around litigation exposure. And I'm noticing the LivePerson acquisition context here — there's no 8-K filed specifically for that deal in my results, though it's referenced as pending elsewhere.\n\nThe valuation math is striking: at $6.70, SOUN trades at roughly 15x revenue with negative earnings and significant cash burn, while analyst targets suggest 83% upside potential to ~$12.20, yet the stock has collapsed 70% from its highs over just eight months.\n\nOn the options side, I'm running into a critical problem—the bid-ask spreads are zero or undefined across all strikes on both expiry dates I'm examining. This suggests either extremely thin market depth or data quality issues that make it impossible to properly price any CSP trades at reasonable spreads.\n\nFor IV context, I need to reconsider what's actually happening here. The put's $0.31 premium on a $6 strike with 35 DTE doesn't translate directly to the stock's implied volatility—it's driven by how far OTM the option is and what the market is pricing for that specific contract. The queue data shows IV around 12.5%, but I don't have enough comparable strikes or historical context from this single expiry date to assess whether that's elevated relative to the stock's actual volatility regime.\n\nLooking at what's actually disqualifying here: zero bid-ask spreads across all strikes indicates no real market maker activity, which means execution is unreliable even if IV appears attractive. The bearish flow signal with $8.8M in put notional concentrated on a $10 strike that's 50% OTM reinforces the downward pressure I'm seeing. Combined with an RSI of 33 and price sitting well below both moving averages on a downtrending stock, this setup doesn't meet my criteria for a CSP despite the premium being there.\n\nThe earnings date falling outside the July 17 expiry is actually helpful—earnings hit August 6, so there's no IV crush risk to worry about. But even with that timing working in my favor, the liquidity and technical picture are too weak to move forward.\n\nMy final call is **no_setup**: the options chain has zero bid/ask spreads across all strikes which makes execution unreliable for a premium collection strategy.\n\n\n{\n \"symbol\": \"SOUN\",\n \"company\": \"SoundHound AI, Inc.\",\n \"investigation_summary\": \"SOUN trades at $6.69 after collapsing ~70% from its October 2025 peak of $21.40 — now sitting 39.7% below the 200DMA ($11.08) and 16.3% below MA50 ($7.99). The stock is deeply oversold on RSI (33.1) with MACD bearish, yet fundamentals are challenged: negative EPS, -$105M operating cash burn annually, forward P/E of -55x, and a pending LivePerson acquisition creating integration uncertainty. Options data reveals CRITICAL liquidity problems — bid/ask spreads show as zero across all strikes on both the July 10 and July 17 chains for both calls and puts, meaning no real market exists despite OI. The wheel-hunter flagged $0.31 premium on a 35DTE CSP at strike $6, but the put IV of ~12.5% reflects compressed vol on a thin contract; annualized yield calculations are unreliable without a functioning bid side. Bearish flow signals dominate ($8.85M notional in OTM puts vs $45K calls), short interest is elevated (~38%), and analyst targets (mean $14, +110%) are aggressive given ongoing cash burn and litigation exposure from governance amendments removing retroactive cure provisions. Earnings on August 6 fall AFTER both viable CSP expiries — good for IV maintenance — but the zero-spread options market makes execution unreliable.\",\n \"verdict\": \"no_setup\",\n \"confidence_in_data\": 3,\n \"structure_recommendation\": null,\n \"price_context\": {\n \"last_close\": 6.69,\n \"ma_50\": 7.99,\n \"ma_200\": 11.08,\n \"yhigh_52w\": 21.40,\n \"ylow_52w\": 5.83,\n \"from_high_pct\": -68.74,\n \"from_200dma_pct\": -39.62,\n \"rsi_14\": 33.1\n },\n \"iv_context\": {\n \"iv_rank_pct\": null,\n \"iv_percentile_pct\": null,\n \"iv_atm_30d\": null,\n \"iv_history_summary\": \"Put IV at $6 strike / 35DTE reads ~12.5%, but bid/ask is undefined (0/0) across all strikes, indicating no real market-maker presence. Cannot compute IV rank without functioning ATM chain data.\"\n },\n \"candidate_strikes\": [],\n \"earnings_in_window\": false,\n \"anti_signals_present\": [\n \"Zero bid-ask spread on ALL strikes — options market is non-functional for reliable execution\",\n \"Bearish whale flow: $8.85M notional in OTM $10 puts vs $45K calls (net -$8.8M directional bias)\",\n \"38% short float with elevated squeeze risk in either direction\",\n \"Governance litigation overhang: bylaws amended to remove retroactive cure provisions, increasing shareholder derivative exposure\",\n \"$300M ATM equity offering active — continuous dilution pressure on share count\",\n \"Pending LivePerson acquisition adds integration/cash-burn uncertainty\",\n \"Deeply negative FCF (-$16.7M) and operating cash flow (-$105M TTM)\",\n \"Price below both MA50 and MA200, RSI still declining (33.1), MACD bearish\"\n ],\n \"competitive_landscape\": \"SOUN competes in conversational AI/voice assistants against large incumbents (Google Assistant, Amazon Alexa, Apple Siri) while pursuing enterprise verticals like automotive and customer service. Revenue grew +51.7% YoY but the company remains unprofitable with no clear path to margin expansion given competitive intensity from hyperscalers building their own LLMs.\",\n \"key_risks\": [\n \"Options chain bid/ask spreads are zero across all strikes — no reliable execution mechanism for premium collection\",\n \"Stock down ~70% in 8 months; trend is still bearish with price below both major MAs and RSI in the low-30s\",\n \"$300M ATM equity offering creates continuous dilution overhang that will cap upside and pressure the stock lower over time\",\n \"-$105M annual operating cash burn without a defined profitability timeline makes long-term holding risky for assignment scenarios\",\n \"Pending LivePerson acquisition could create balance sheet strain; governance amendments signal ongoing litigation risk from shareholder derivative suits\",\n \"38% short float means any positive catalyst could trigger a squeeze, but equally any negative news accelerates the downtrend\",\n \"Bearish institutional flow ($8.85M in OTM put notional) suggests sophisticated players are positioned for continued decline\"\n ],\n \"sources\": [\n {\"label\": \"Price History / MA Data\", \"url\": \"price_history(SOUN, 365)\"},\n {\"label\": \"Technicals (RSI/MACD)\", \"url\": \"technicals(SOUN)\"},\n {\"label\": \"Fundamentals & Market Cap\", \"url\": \"fundamentals(SOUN)\"},\n {\"label\": \"Earnings Calendar — Next: Aug 6, 2026\", \"url\": \"earnings(SOUN)\"},\n {\"label\": \"Options Expiries List\", \"url\": \"options_expiries(SOUN)\"},\n {\"label\": \"July 17 Options Chain (no bid/ask data)\", \"url\": \"options_chain(SOUN, 2026-07-17)\"},\n {\"label\": \"Bearish Whale Flow ($8.85M OTM puts)\", \"url\": \"options_flow(SOUN)\"},\n {\"label\": \"News: ATM offering + governance litigation\", \"url\": \"news_for_symbol(SOUN, '14d')\"},\n {\"label\": \"SEC 8-K: $300M ATM + bylaws amendment (May 27 2026)\", \"url\": \"https://www.sec.gov/Archives/edgar/data/1840856/000121390026061610/ea0292095-8k_sound.htm\"}\n ]\n}", "cleaned_content": "{\n \"symbol\": \"SOUN\",\n \"company\": \"SoundHound AI, Inc.\",\n \"investigation_summary\": \"SOUN trades at $6.69 after collapsing ~70% from its October 2025 peak of $21.40 — now sitting 39.7% below the 200DMA ($11.08) and 16.3% below MA50 ($7.99). The stock is deeply oversold on RSI (33.1) with MACD bearish, yet fundamentals are challenged: negative EPS, -$105M operating cash burn annually, forward P/E of -55x, and a pending LivePerson acquisition creating integration uncertainty. Options data reveals CRITICAL liquidity problems — bid/ask spreads show as zero across all strikes on both the July 10 and July 17 chains for both calls and puts, meaning no real market exists despite OI. The wheel-hunter flagged $0.31 premium on a 35DTE CSP at strike $6, but the put IV of ~12.5% reflects compressed vol on a thin contract; annualized yield calculations are unreliable without a functioning bid side. Bearish flow signals dominate ($8.85M notional in OTM puts vs $45K calls), short interest is elevated (~38%), and analyst targets (mean $14, +110%) are aggressive given ongoing cash burn and litigation exposure from governance amendments removing retroactive cure provisions. Earnings on August 6 fall AFTER both viable CSP expiries — good for IV maintenance — but the zero-spread options market makes execution unreliable.\",\n \"verdict\": \"no_setup\",\n \"confidence_in_data\": 3,\n \"structure_recommendation\": null,\n \"price_context\": {\n \"last_close\": 6.69,\n \"ma_50\": 7.99,\n \"ma_200\": 11.08,\n \"yhigh_52w\": 21.40,\n \"ylow_52w\": 5.83,\n \"from_high_pct\": -68.74,\n \"from_200dma_pct\": -39.62,\n \"rsi_14\": 33.1\n },\n \"iv_context\": {\n \"iv_rank_pct\": null,\n \"iv_percentile_pct\": null,\n \"iv_atm_30d\": null,\n \"iv_history_summary\": \"Put IV at $6 strike / 35DTE reads ~12.5%, but bid/ask is undefined (0/0) across all strikes, indicating no real market-maker presence. Cannot compute IV rank without functioning ATM chain data.\"\n },\n \"candidate_strikes\": [],\n \"earnings_in_window\": false,\n \"anti_signals_present\": [\n \"Zero bid-ask spread on ALL strikes — options market is non-functional for reliable execution\",\n \"Bearish whale flow: $8.85M notional in OTM $10 puts vs $45K calls (net -$8.8M directional bias)\",\n \"38% short float with elevated squeeze risk in either direction\",\n \"Governance litigation overhang: bylaws amended to remove retroactive cure provisions, increasing shareholder derivative exposure\",\n \"$300M ATM equity offering active — continuous dilution pressure on share count\",\n \"Pending LivePerson acquisition adds integration/cash-burn uncertainty\",\n \"Deeply negative FCF (-$16.7M) and operating cash flow (-$105M TTM)\",\n \"Price below both MA50 and MA200, RSI still declining (33.1), MACD bearish\"\n ],\n \"competitive_landscape\": \"SOUN competes in conversational AI/voice assistants against large incumbents (Google Assistant, Amazon Alexa, Apple Siri) while pursuing enterprise verticals like automotive and customer service. Revenue grew +51.7% YoY but the company remains unprofitable with no clear path to margin expansion given competitive intensity from hyperscalers building their own LLMs.\",\n \"key_risks\": [\n \"Options chain bid/ask spreads are zero across all strikes — no reliable execution mechanism for premium collection\",\n \"Stock down ~70% in 8 months; trend is still bearish with price below both major MAs and RSI in the low-30s\",\n \"$300M ATM equity offering creates continuous dilution overhang that will cap upside and pressure the stock lower over time\",\n \"-$105M annual operating cash burn without a defined profitability timeline makes long-term holding risky for assignment scenarios\",\n \"Pending LivePerson acquisition could create balance sheet strain; governance amendments signal ongoing litigation risk from shareholder derivative suits\",\n \"38% short float means any positive catalyst could trigger a squeeze, but equally any negative news accelerates the downtrend\",\n \"Bearish institutional flow ($8.85M in OTM put notional) suggests sophisticated players are positioned for continued decline\"\n ],\n \"sources\": [\n {\"label\": \"Price History / MA Data\", \"url\": \"price_history(SOUN, 365)\"},\n {\"label\": \"Technicals (RSI/MACD)\", \"url\": \"technicals(SOUN)\"},\n {\"label\": \"Fundamentals & Market Cap\", \"url\": \"fundamentals(SOUN)\"},\n {\"label\": \"Earnings Calendar — Next: Aug 6, 2026\", \"url\": \"earnings(SOUN)\"},\n {\"label\": \"Options Expiries List\", \"url\": \"options_expiries(SOUN)\"},\n {\"label\": \"July 17 Options Chain (no bid/ask data)\", \"url\": \"options_chain(SOUN, 2026-07-17)\"},\n {\"label\": \"Bearish Whale Flow ($8.85M OTM puts)\", \"url\": \"options_flow(SOUN)\"},\n {\"label\": \"News: ATM offering + governance litigation\", \"url\": \"news_for_symbol(SOUN, '14d')\"},\n {\"label\": \"SEC 8-K: $300M ATM + bylaws amendment (May 27 2026)\", \"url\": \"https://www.sec.gov/Archives/edgar/data/1840856/000121390026061610/ea0292095-8k_sound.htm\"}\n ]\n}", "tool_calls": [], "finish_reason": "stop" } ], "tool_results": [ { "idx": 1, "name": "price_history", "args": { "ticker": "SOUN", "days": 365 }, "result_first_8k": 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UOA from yfinance V/OI. Real signal requires a paid feed (Unusual Whales etc) — v2.\"}", "full_size": 1243, "error": false }, { "idx": 8, "name": "news_for_symbol", "args": { "ticker": "SOUN", "since": "14d" }, "result_first_8k": "{\"count\":20,\"items\":[{\"title\":\"Why I'm Rethinking My Bearish Outlook on SoundHound AI: The Stock Could Be a Long-Term Winner\",\"link\":\"https://www.fool.com/investing/2026/06/10/why-im-rethinking-my-bearish-outlook-on-soundhound/?.tsrc=rss\",\"pubDate\":\"2026-06-11T01:20:00.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"The tech is nothing new, it's losing money, and the stock's down 70%. And yet...\"},{\"title\":\"2 Hypergrowth Pure-Play AI Stocks to Buy and Hold for the Next Decade\",\"link\":\"https://www.fool.com/investing/2026/06/10/2-hypergrowth-pure-play-ai-stocks-to-buy-and-hold/?.tsrc=rss\",\"pubDate\":\"2026-06-10T19:20:00.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"Nebius and SoundHound AI have major upside but also have some risks investors must understand.\"},{\"title\":\"Is SoundHound AI (SOUN) a Buy as Wall Street Analysts Look Optimistic?\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/soundhound-ai-soun-buy-wall-133004949.html?.tsrc=rss\",\"pubDate\":\"2026-06-10T13:30:04.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"According to the average brokerage recommendation (ABR), one should invest in SoundHound AI (SOUN). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?\"},{\"title\":\"SoundHound AI Named As Overall Leader in The 2026 ISG Buyers Guide™ for Conversational AI Emerging Providers\",\"link\":\"https://finance.yahoo.com/sectors/technology/articles/soundhound-ai-named-overall-leader-130300378.html?.tsrc=rss\",\"pubDate\":\"2026-06-10T13:03:00.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"Achieves \\\"Leader\\\" status across all evaluated technology and experience categories SANTA CLARA, Calif., June 10, 2026 (GLOBE NEWSWIRE) -- SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice and agentic AI, has been recognized as the overall Leader in the 2026 ISG Buyers Guide™ for Conversational AI Emerging Providers. As well as being named as the overall Leader, SoundHound secured a Leader designation in every specific category assessed, including Product Experience, Capability, Platfo\"},{\"title\":\"Wall Street Thinks This beaten Down AI Stock Could Easily Double From Here\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/wall-street-thinks-beaten-down-092357359.html?.tsrc=rss\",\"pubDate\":\"2026-06-10T09:23:57.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"SoundHound AI Inc. (NASDAQ:SOUN) is one of the 12 Best Mid-Cap AI Stocks to Buy According to Analysts. SoundHound AI Inc. (NASDAQ:SOUN) is a stock that has significantly underperformed during the AI rally over the last 12 months. Even though analysts have a median upside of 83% on the stock, its performance has been choppy […]\"},{\"title\":\"SoundHound AI to Participate in D.A. Davidson 2026 Technology & Consumer Conference\",\"link\":\"https://finance.yahoo.com/sectors/technology/articles/soundhound-ai-participate-d-davidson-130300483.html?.tsrc=rss\",\"pubDate\":\"2026-06-09T13:03:00.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"SANTA CLARA, Calif., June 09, 2026 (GLOBE NEWSWIRE) -- SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice and agentic AI, today announced that it will be participating in the D.A. Davidson 2026 Technology & Consumer Conference on Thursday, June 11, 2026, in Nashville, Tennessee. Keyvan Mohajer, SoundHound’s Co-Founder and Chief Executive Officer, will participate in a fireside chat to be broadcast live at 12:20 PM PT / 2:20 PM CT / 3:20 PM ET. The presentation will be streamed live, wi\"},{\"title\":\"Is SoundHound AI (SOUN) Quietly Rewriting Its Governance To Shift The Investor-Litigation Balance?\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/soundhound-ai-soun-quietly-rewriting-121220140.html?.tsrc=rss\",\"pubDate\":\"2026-06-09T12:12:20.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"In May 2026, SoundHound AI’s board approved Second Amended and Restated Bylaws that removed a clause allowing the board or shareholders to retroactively ratify and “cure” unauthorized, defective, or conflicted transactions targeted in derivative or similar lawsuits. This governance shift effectively narrows management’s ability to block shareholder litigation through after-the-fact approvals, potentially strengthening accountability and recourse for investors. Next, we’ll examine how...\"},{\"title\":\"Nebius Group vs. SoundHound AI: Which AI Stock Is a Better Buy in 2026?\",\"link\":\"https://www.fool.com/coverage/better-buy/2026/06/08/nebius-group-vs-soundhound-ai-which-ai-stock-is-a-better-buy-in-2026/?.tsrc=rss\",\"pubDate\":\"2026-06-08T19:22:18.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"One company powers global AI infrastructure, while the other drives conversational tech in cars and restaurants, each with a distinct risk and growth profile.\"},{\"title\":\"Is SoundHound (SOUN) an AI Bubble Stocks to Short Now?\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/soundhound-soun-ai-bubble-stocks-161518409.html?.tsrc=rss\",\"pubDate\":\"2026-06-08T16:15:18.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"​SoundHound AI, Inc. (NASDAQ:SOUN) is one of the AI Bubble Stocks to Short Now According to Reddit. SoundHound AI, Inc. (NASDAQ:SOUN) is among some of the most shorted stocks with a short float exceeding 38%. The stock has declined more than 16% since the release of fiscal Q1 2026 earnings on May 7. However, the […]\"},{\"title\":\"SoundHound AI's CEO Says the Company Has a \\\"Proven Track Record When it Comes to M&A.\\\" But Do the Numbers Really Back That Up?\",\"link\":\"https://www.fool.com/investing/2026/06/08/soundhound-ais-ceo-says-the-company-has-a-proven-t/?.tsrc=rss\",\"pubDate\":\"2026-06-08T13:50:00.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"Acquisitions have enabled SoundHound's business to grow tremendously in recent years, but they've come at a cost.\"},{\"title\":\"Is SoundHound AI, Inc. (SOUN) A Good Stock To Buy Now?\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/soundhound-ai-inc-soun-good-212738180.html?.tsrc=rss\",\"pubDate\":\"2026-06-07T21:27:38.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"Is SOUN a good stock to buy? We came across a bullish thesis on SoundHound AI, Inc. on Stay Invested’s Substack by Denis Gorbunov. In this article, we will summarize the bulls’ thesis on SOUN. SoundHound AI, Inc.’s share was trading at $8.08 as of May 27th. SoundHound AI, Inc. (SOUN) is a conversational artificial intelligence company […]\"},{\"title\":\"SoundHound AI Legal Probes And Stock Offering Weigh On Valuation Outlook\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/soundhound-ai-legal-probes-stock-131951499.html?.tsrc=rss\",\"pubDate\":\"2026-06-07T13:19:51.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"SoundHound AI (NasdaqGM:SOUN) is facing multiple legal probes and shareholder lawsuits focused on governance, internal controls, and acquisition accounting. The company has announced a $300 million at-the-market stock offering that could lead to dilution for existing shareholders. These developments have arrived alongside pressure on the stock, with shares down 17.9% over the past week and 30.3% year to date, closing at $7.39. For investors tracking SoundHound AI at NasdaqGM:SOUN, the mix...\"},{\"title\":\"The next NVIDIA? These 3 stocks below $50 are poised to win the next AI boom (and they’re still flying under the radar)\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/next-nvidia-3-stocks-below-120500020.html?.tsrc=rss\",\"pubDate\":\"2026-06-06T12:05:00.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"Wall Street sees big upside in all of them.\"},{\"title\":\"Upstart and SoundHound AI Stocks Trade Down, What You Need To Know\",\"link\":\"https://finance.yahoo.com/markets/stocks/articles/upstart-soundhound-ai-stocks-trade-022414701.html?.tsrc=rss\",\"pubDate\":\"2026-06-06T02:24:14.000Z\",\"source\":\"Yahoo! Finance: SOUN News\",\"summary\":\"A number of stocks fell in the afternoon session after a stronger-than-expected jobs report signaled that the Federal Reserve may keep interest rates higher for longer.\"},{\"title\":\"SoundHound AI, Inc. (SOUN) is Attra", "full_size": 11723, "error": false }, { "idx": 9, "name": "edgar_recent_filings", "args": { "ticker": "SOUN", "form": "8-K", "recent": 5 }, "result_first_8k": "{\"ticker\":\"SOUN\",\"cik\":\"0001840856\",\"company\":\"SOUNDHOUND AI, INC.\",\"count\":5,\"filings\":[{\"form\":\"8-K\",\"filed\":\"2026-05-27\",\"reportDate\":\"2026-05-27\",\"accession\":\"0001213900-26-061610\",\"primaryDoc\":\"ea0292095-8k_sound.htm\",\"url\":\"https://www.sec.gov/Archives/edgar/data/1840856/000121390026061610/ea0292095-8k_sound.htm\",\"indexUrl\":\"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001840856&type=8-K&dateb=&owner=include&count=10\"},{\"form\":\"8-K\",\"filed\":\"2026-05-07\",\"reportDate\":\"2026-05-07\",\"accession\":\"0001840856-26-000012\",\"primaryDoc\":\"soun-20260507.htm\",\"url\":\"https://www.sec.gov/Archives/edgar/data/1840856/000184085626000012/soun-20260507.htm\",\"indexUrl\":\"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001840856&type=8-K&dateb=&owner=include&count=10\"},{\"form\":\"8-K\",\"filed\":\"2026-04-21\",\"reportDate\":\"2026-04-21\",\"accession\":\"0001213900-26-045987\",\"primaryDoc\":\"ea0287117-8k425_sound.htm\",\"url\":\"https://www.sec.gov/Archives/edgar/data/1840856/000121390026045987/ea0287117-8k425_sound.htm\",\"indexUrl\":\"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001840856&type=8-K&dateb=&owner=include&count=10\"},{\"form\":\"8-K\",\"filed\":\"2026-03-18\",\"reportDate\":\"2026-03-18\",\"accession\":\"0001213900-26-030707\",\"primaryDoc\":\"ea0282324-8k_sound.htm\",\"url\":\"https://www.sec.gov/Archives/edgar/data/1840856/000121390026030707/ea0282324-8k_sound.htm\",\"indexUrl\":\"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001840856&type=8-K&dateb=&owner=include&count=10\"},{\"form\":\"8-K\",\"filed\":\"2026-02-26\",\"reportDate\":\"2026-02-26\",\"accession\":\"0001840856-26-000002\",\"primaryDoc\":\"soun-20260226.htm\",\"url\":\"https://www.sec.gov/Archives/edgar/data/1840856/000184085626000002/soun-20260226.htm\",\"indexUrl\":\"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001840856&type=8-K&dateb=&owner=include&count=10\"}]}", "full_size": 1871, "error": false }, { "idx": 10, "name": "options_chain", "args": { "ticker": "SOUN", "expiry": "2026-07-10", "strikes_around": 15 }, "result_first_8k": "{\"symbol\":\"SOUN\",\"spot\":6.645,\"expiry\":\"2026-07-10\",\"days_to_expiry\":28,\"calls\":[{\"strike\":6.5,\"last\":0.83,\"bid\":0,\"ask\":0,\"mid\":0,\"iv\":0.000010000000000000003,\"volume\":11,\"open_interest\":59,\"in_the_money\":true},{\"strike\":7,\"last\":0.51,\"bid\":0,\"ask\":0,\"mid\":0,\"iv\":0.062509375,\"volume\":95,\"open_interest\":365,\"in_the_money\":false},{\"strike\":7.5,\"last\":0.4,\"bid\":0,\"ask\":0,\"mid\":0,\"iv\":0.12500875,\"volume\":12,\"open_interest\":159,\"in_the_money\":false}],\"puts\":[{\"strike\":6,\"last\":0.25,\"bid\":0,\"ask\":0,\"mid\":0,\"iv\":0.12500875,\"volume\":225,\"open_interest\":200,\"in_the_money\":false},{\"strike\":6.5,\"last\":0.4,\"bid\":0,\"ask\":0,\"mid\":0,\"iv\":0.0312596875,\"volume\":30,\"open_interest\":172,\"in_the_money\":false},{\"strike\":7,\"last\":0.72,\"bid\":0,\"ask\":0,\"mid\":0,\"iv\":0.000010000000000000003,\"volume\":28,\"open_interest\":252,\"in_the_money\":true},{\"strike\":7.5,\"last\":1,\"bid\":0,\"ask\":0,\"mid\":0,\"iv\":0.000010000000000000003,\"volume\":64,\"open_interest\":528,\"in_the_money\":true}]}", "full_size": 959, "error": false }, { "idx": 11, "name": "edgar_filing_text", "args": { "filing_url": "https://www.sec.gov/Archives/edgar/data/1840856/000121390026061610/ea0292095-8k_sound.htm", "max_chars": 10000 }, "result_first_8k": "{\"url\":\"https://www.sec.gov/Archives/edgar/data/1840856/000121390026061610/ea0292095-8k_sound.htm\",\"length\":10000,\"text\":\"false --12-31 0001840856 0001840856 2026-05-27 2026-05-27 0001840856 SOUN:ClassCommonStock0.0001ParValuePerShareMember 2026-05-27 2026-05-27 0001840856 SOUN:WarrantsEachExercisableForOneShareOfClassCommonStockAtExercisePriceOf11.50PerShareSubjectToAdjustmentMember 2026-05-27 2026-05-27 iso4217:USD xbrli:shares iso4217:USD xbrli:shares     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT   Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): May 27, 2026   SOUNDHOUND AI, INC. (Exact name of registrant as specified in its charter)   Delaware   001-40193   85-1286799 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   5400 Betsy Ross Drive Santa Clara , CA   95054 (Address of principal executive offices)   (Zip Code)   Registrant’s telephone number, including area code: ( 408 ) 441-3200     (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Title of each class   Trading Symbol   Name of each exchange on which registered Class A Common Stock, $0.0001 par value per share   SOUN   The Nasdaq Stock Market LLC Warrants, each exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share, subject to adjustment   SOUNW   The Nasdaq Stock Market LLC   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐             Item 5.03. Amendments to Certificate of Incorporation or Bylaws; Change in Fiscal Year.   On May 25, 2026, the Board of Directors (the “ Board ”) of SoundHound AI, Inc., a Delaware corporation (the “ Company ”), unanimously approved and adopted the Second Amended and Restated Bylaws of the Company (the “ Second Amended and Restated Bylaws ”). The Second Amended and Restated Bylaws amend and restate those certain Amended and Restated Bylaws of the Company adopted by the Board on April 26, 2022, to remove the provision allowing any unauthorized, defective or conflicted transaction questioned in any stockholders’ derivative suit, or any other suit to enforce alleged rights of the Company or any of its stockholders, to be approved, ratified and confirmed by the Board or the Company’s stockholders before or after judgment, and thereby to be cured, and such approval, ratification or confirmation to constitute a bar to any claim or execution of any judgment in respect of such questioned transaction.   The preceding is a summary of the material changes in the Amended and Restated Bylaws and is qualified in its entirety by reference to the complete text of the Amended and Restated Bylaws filed as Exhibit 3.1 to this Current Report on Form 8-K (this “ Report ”) and incorporated by reference herein.   Item 5.07    Submission of Matters to a Vote of Security Holders.   On May 22, 2026, the Company held its 2026 annual meeting of stockholders (the “ Annual Meeting ”). The number of shares of Class A common stock, par value $0.0001 per share (the “ Class A Common Stock ”), entitled to vote at the Annual Meeting was 393,674,647 shares and the number of shares of Class B common stock, par value $0.0001 per share (the “ Class B Common Stock ” and, together with the Class A Common Stock, the “ Voting Stock ”), entitled to vote at the Annual Meeting was 32,535,408 shares. Stockholders were entitled to one vote for each share of Class A Common Stock owned and 10 votes for each share of Class B Common Stock owned. The number of shares of Voting Stock present or represented by valid proxy at the Annual Meeting was 426,210,055 shares representing 719,028,727 votes. At the Annual Meeting, the Company’s stockholders (i) re-elected each of Dr. Keyvan Mohajer, James Hom, Larry Marcus, Diana Sroka and Dr. Eric Ball as directors to serve on the Board for a one-year term that will expire at the Company’s 2027 annual meeting of stockholders, or until their successors are elected and qualified, and (ii) ratified the appointment by the Board of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026.   The following is a tabulation of the voting on each of the proposals presented at the Annual Meeting:   Proposal No. 1 – Election of directors   Dr. Keyvan Mohajer, James Hom, Larry Marcus, Diana Sroka and Dr. Eric Ball were elected to serve until the 2026 annual meeting of stockholders or until his or her successor is duly elected and qualified or until his or her earlier resignation or removal or otherwise is disqualified from serving as a director of the Company. The voting results were as follows:   Nominee   Shares Voted For   Shares Withheld   Broker Non-Votes Dr. Keyvan Mohajer   367,926,495   2,783,725   150,823,007 James Hom   366,138,436   4,571,784   150,823,007 Larry Marcus   356,789,793   13,920,427   150,823,007 Diana Sroka   360,252,557   10,457,663   150,823,007 Dr. Eric Ball   352,655,071   18,055,149   150,823,007     Proposal No. 2 – Ratification of the appointment by the Board of the Company of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026   The ratification of the appointment by the Board of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 was approved. The voting results were as follows:    Votes For   Votes Against   Abstentions 514,619,500   4,307,207   2,606,520   1     Item 8.01. Other Events.   As disclosed in the Company’s Registration Statement on Form S-3ASR filed with the Securities and Exchange Commission on May 11, 2026 (the “ Registration Statement ”), on May 11, 2026, the Company entered into an equity distribution agreement (the “ Equity Distribution Agreement ”) with Cantor Fitzgerald & Co., D.A. Davidson& Co., H.C. Wainwright & Co., LLC, Roth Capital Partners, LLC, Northland Securities, Inc., Ladenburg Thalmann & Co. Inc., Wedbush Securities Inc. and Joseph Gunnar & Co., LLC (collectively, the “ Managers ”), relating to the sale of up to $300,000,000 shares of the Company’s Class A common stock, par value $0.0001 per share, pursuant to the Registration Statement and the sales pr", "full_size": 10124, "error": false } ], "final_message": "{\n \"symbol\": \"SOUN\",\n \"company\": \"SoundHound AI, Inc.\",\n \"investigation_summary\": \"SOUN trades at $6.69 after collapsing ~70% from its October 2025 peak of $21.40 — now sitting 39.7% below the 200DMA ($11.08) and 16.3% below MA50 ($7.99). The stock is deeply oversold on RSI (33.1) with MACD bearish, yet fundamentals are challenged: negative EPS, -$105M operating cash burn annually, forward P/E of -55x, and a pending LivePerson acquisition creating integration uncertainty. Options data reveals CRITICAL liquidity problems — bid/ask spreads show as zero across all strikes on both the July 10 and July 17 chains for both calls and puts, meaning no real market exists despite OI. The wheel-hunter flagged $0.31 premium on a 35DTE CSP at strike $6, but the put IV of ~12.5% reflects compressed vol on a thin contract; annualized yield calculations are unreliable without a functioning bid side. Bearish flow signals dominate ($8.85M notional in OTM puts vs $45K calls), short interest is elevated (~38%), and analyst targets (mean $14, +110%) are aggressive given ongoing cash burn and litigation exposure from governance amendments removing retroactive cure provisions. Earnings on August 6 fall AFTER both viable CSP expiries — good for IV maintenance — but the zero-spread options market makes execution unreliable.\",\n \"verdict\": \"no_setup\",\n \"confidence_in_data\": 3,\n \"structure_recommendation\": null,\n \"price_context\": {\n \"last_close\": 6.69,\n \"ma_50\": 7.99,\n \"ma_200\": 11.08,\n \"yhigh_52w\": 21.40,\n \"ylow_52w\": 5.83,\n \"from_high_pct\": -68.74,\n \"from_200dma_pct\": -39.62,\n \"rsi_14\": 33.1\n },\n \"iv_context\": {\n \"iv_rank_pct\": null,\n \"iv_percentile_pct\": null,\n \"iv_atm_30d\": null,\n \"iv_history_summary\": \"Put IV at $6 strike / 35DTE reads ~12.5%, but bid/ask is undefined (0/0) across all strikes, indicating no real market-maker presence. Cannot compute IV rank without functioning ATM chain data.\"\n },\n \"candidate_strikes\": [],\n \"earnings_in_window\": false,\n \"anti_signals_present\": [\n \"Zero bid-ask spread on ALL strikes — options market is non-functional for reliable execution\",\n \"Bearish whale flow: $8.85M notional in OTM $10 puts vs $45K calls (net -$8.8M directional bias)\",\n \"38% short float with elevated squeeze risk in either direction\",\n \"Governance litigation overhang: bylaws amended to remove retroactive cure provisions, increasing shareholder derivative exposure\",\n \"$300M ATM equity offering active — continuous dilution pressure on share count\",\n \"Pending LivePerson acquisition adds integration/cash-burn uncertainty\",\n \"Deeply negative FCF (-$16.7M) and operating cash flow (-$105M TTM)\",\n \"Price below both MA50 and MA200, RSI still declining (33.1), MACD bearish\"\n ],\n \"competitive_landscape\": \"SOUN competes in conversational AI/voice assistants against large incumbents (Google Assistant, Amazon Alexa, Apple Siri) while pursuing enterprise verticals like automotive and customer service. Revenue grew +51.7% YoY but the company remains unprofitable with no clear path to margin expansion given competitive intensity from hyperscalers building their own LLMs.\",\n \"key_risks\": [\n \"Options chain bid/ask spreads are zero across all strikes — no reliable execution mechanism for premium collection\",\n \"Stock down ~70% in 8 months; trend is still bearish with price below both major MAs and RSI in the low-30s\",\n \"$300M ATM equity offering creates continuous dilution overhang that will cap upside and pressure the stock lower over time\",\n \"-$105M annual operating cash burn without a defined profitability timeline makes long-term holding risky for assignment scenarios\",\n \"Pending LivePerson acquisition could create balance sheet strain; governance amendments signal ongoing litigation risk from shareholder derivative suits\",\n \"38% short float means any positive catalyst could trigger a squeeze, but equally any negative news accelerates the downtrend\",\n \"Bearish institutional flow ($8.85M in OTM put notional) suggests sophisticated players are positioned for continued decline\"\n ],\n \"sources\": [\n {\"label\": \"Price History / MA Data\", \"url\": \"price_history(SOUN, 365)\"},\n {\"label\": \"Technicals (RSI/MACD)\", \"url\": \"technicals(SOUN)\"},\n {\"label\": \"Fundamentals & Market Cap\", \"url\": \"fundamentals(SOUN)\"},\n {\"label\": \"Earnings Calendar — Next: Aug 6, 2026\", \"url\": \"earnings(SOUN)\"},\n {\"label\": \"Options Expiries List\", \"url\": \"options_expiries(SOUN)\"},\n {\"label\": \"July 17 Options Chain (no bid/ask data)\", \"url\": \"options_chain(SOUN, 2026-07-17)\"},\n {\"label\": \"Bearish Whale Flow ($8.85M OTM puts)\", \"url\": \"options_flow(SOUN)\"},\n {\"label\": \"News: ATM offering + governance litigation\", \"url\": \"news_for_symbol(SOUN, '14d')\"},\n {\"label\": \"SEC 8-K: $300M ATM + bylaws amendment (May 27 2026)\", \"url\": \"https://www.sec.gov/Archives/edgar/data/1840856/000121390026061610/ea0292095-8k_sound.htm\"}\n ]\n}", "tool_calls_total": 11, "walltime_ms": 313036, "stop_reason": "stop", "completed_at": "2026-06-11T13:42:21.950Z" }