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 positions 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.
Today, Benzinga's options scanner spotted 22 options trades for Coinbase Glb.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 54%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $70,700, and 21, calls, for a total amount of $2,316,779.
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 $200.0 to $400.0 for Coinbase Glb over the last 3 months.
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 $200.0 to $400.0 in the last 30 days.
Coinbase Glb 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COIN | CALL | SWEEP | BULLISH | 07/19/24 | $8.05 | $7.45 | $8.05 | $300.00 | $405.8K | 7.5K | 1.7K |
| COIN | CALL | SWEEP | BULLISH | 03/21/25 | $26.7 | $26.45 | $26.7 | $400.00 | $347.1K | 910 | 332 |
| COIN | CALL | SWEEP | BEARISH | 06/21/24 | $10.45 | $10.1 | $10.15 | $250.00 | $304.5K | 7.6K | 614 |
| COIN | CALL | SWEEP | BULLISH | 07/19/24 | $10.8 | $10.15 | $10.15 | $300.00 | $253.7K | 7.5K | 8 |
| COIN | CALL | TRADE | BEARISH | 03/21/25 | $44.7 | $43.8 | $43.8 | $300.00 | $205.8K | 1.4K | 49 |
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.
Having examined the options trading patterns of Coinbase Glb, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Coinbase Glb Standing Right Now?
- Currently trading with a volume of 3,783,789, the COIN's price is down by -4.06%, now at $222.1.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 70 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 $265.8.
- An analyst from Wedbush persists with their Outperform rating on Coinbase Glb, maintaining a target price of $250.
- An analyst from Goldman Sachs persists with their Neutral rating on Coinbase Glb, maintaining a target price of $255.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Coinbase Glb, which currently sits at a price target of $300.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $320.
- An analyst from Barclays has decided to maintain their Underweight rating on Coinbase Glb, which currently sits at a price target of $204.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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