Smart Money Is Betting Big In COIN Options

Investors with a lot of money to spend have taken a bearish stance on Coinbase Glb COIN.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with COIN, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 25 uncommon options trades for Coinbase Glb.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 56%, bearish.

Out of all of the special options we uncovered, 14 are puts, for a total amount of $1,265,687, and 11 are calls, for a total amount of $648,952.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $118.0 to $200.0 for Coinbase Glb during the past quarter.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Coinbase Glb's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Coinbase Glb's whale trades within a strike price range from $118.0 to $200.0 in the last 30 days.

Coinbase Glb Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About Coinbase Glb

Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.

In light of the recent options history for Coinbase Glb, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Coinbase Glb

• With a trading volume of 2,504,267, the price of COIN is down by -0.4%, reaching $120.85.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 21 days from now.

Expert Opinions on Coinbase Glb

In the last month, 5 experts released ratings on this stock with an average target price of $130.2.

• An analyst from JP Morgan downgraded its action to Underweight with a price target of $80.
• An analyst from Needham has decided to maintain their Buy rating on Coinbase Glb, which currently sits at a price target of $180.
• An analyst from Wedbush has decided to maintain their Outperform rating on Coinbase Glb, which currently sits at a price target of $180.
• Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Coinbase Glb with a target price of $151.
• An analyst from Mizuho persists with their Underperform rating on Coinbase Glb, maintaining a target price of $60.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Coinbase Glb, Benzinga Pro gives you real-time options trades alerts.