What the Options Market Tells Us About Coinbase Glb

Deep-pocketed investors have adopted a bearish approach towards Coinbase Glb COIN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COIN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 100 extraordinary options activities for Coinbase Glb. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 38% leaning bullish and 62% bearish. Among these notable options, 18 are puts, totaling $1,237,018, and 82 are calls, amounting to $6,002,687.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $370.0 for Coinbase Glb over the last 3 months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Coinbase Glb's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Coinbase Glb's significant trades, within a strike price range of $60.0 to $370.0, over the past month.

Coinbase Glb 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Coinbase Glb, we pivot to a closer look at the company's own performance.

Present Market Standing of Coinbase Glb

• Currently trading with a volume of 10,459,495, the COIN's price is up by 1.64%, now at $168.7.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 66 days.

What Analysts Are Saying About Coinbase Glb

In the last month, 5 experts released ratings on this stock with an average target price of $173.8.

• Consistent in their evaluation, an analyst from HC Wainwright & Co. keeps a Buy rating on Coinbase Glb with a target price of $250.
• An analyst from Mizuho has decided to maintain their Underperform rating on Coinbase Glb, which currently sits at a price target of $84.
• An analyst from Piper Sandler persists with their Neutral rating on Coinbase Glb, maintaining a target price of $165.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Sell rating for Coinbase Glb, targeting a price of $170.
• Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Coinbase Glb, targeting a price of $200.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Coinbase Glb options trades with real-time alerts from Benzinga Pro.