Coinbase Glb's Options: A Look at What the Big Money is Thinking

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 59 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 37% leaning bullish and 47% bearish. Among these notable options, 5 are puts, totaling $604,430, and 54 are calls, amounting to $4,867,213.

Predicted Price Range

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.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Coinbase Glb options trades today is 2336.6 with a total volume of 35,886.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Coinbase Glb's big money trades within a strike price range of $200.0 to $400.0 over the last 30 days.

Coinbase Glb Option Volume And Open Interest Over 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.

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

Current Position of Coinbase Glb

• Currently trading with a volume of 4,725,974, the COIN's price is up by 0.93%, now at $245.12.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 16 days.

Expert Opinions on Coinbase Glb

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $242.0.

• An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $315.
• Consistent in their evaluation, an analyst from Barclays keeps a Underweight rating on Coinbase Glb with a target price of $196.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Coinbase Glb, targeting a price of $215.

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.