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We have theoretically studied the transport properties of the SIsN<inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><msub><mrow></mrow><mrow><mi>S</mi><mi>O</mi></mrow></msub></semantics></math></inline-formula>F structure consisting of thick (S) and thin (s) films of superconductor, an insulator layer (I), a thin film of normal metal with spin–orbit interaction (SOI) (N<inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><msub><mrow></mrow><mrow><mi>S</mi><mi>O</mi></mrow></msub></semantics></math></inline-formula>), and a monodomain ferromagnetic layer (F). The interplay between superconductivity, ferromagnetism, and spin–orbit interaction allows the critical current of this Josephson junction to be smoothly varied over a wide range by rotating the magnetization direction in the single F-layer. We have studied the amplitude of the spin valve effect and found the optimal ranges of parameters.