Deep-pocketed investors have adopted a bullish 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 20 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 50% leaning bullish and 25% bearish. Among these notable options, 9 are puts, totaling $380,114, and 11 are calls, amounting to $467,971.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $350.0 for Coinbase Glb, spanning the last three months.
Volume & Open Interest Trends
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 $100.0 to $350.0 in the last 30 days.
Coinbase Glb 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COIN | PUT | SWEEP | BEARISH | 08/09/24 | $3.85 | $3.8 | $3.85 | $182.50 | $107.8K | 247 | 223 |
| COIN | CALL | TRADE | NEUTRAL | 12/20/24 | $16.6 | $12.25 | $14.15 | $270.00 | $70.7K | 416 | 0 |
| COIN | PUT | TRADE | NEUTRAL | 10/18/24 | $13.0 | $12.8 | $12.9 | $160.00 | $64.5K | 959 | 111 |
| COIN | CALL | TRADE | BULLISH | 01/17/25 | $62.0 | $60.6 | $61.6 | $150.00 | $61.6K | 879 | 10 |
| COIN | CALL | TRADE | NEUTRAL | 12/19/25 | $61.05 | $57.4 | $59.2 | $210.00 | $59.2K | 140 | 10 |
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
Present Market Standing of Coinbase Glb
- With a trading volume of 1,575,406, the price of COIN is up by 5.33%, reaching $188.44.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 84 days from now.
Professional Analyst Ratings for Coinbase Glb
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $276.2.
- An analyst from Canaccord Genuity downgraded its action to Buy with a price target of $280.
- An analyst from HC Wainwright & Co. persists with their Buy rating on Coinbase Glb, maintaining a target price of $295.
- In a positive move, an analyst from Citigroup has upgraded their rating to Buy and adjusted the price target to $345.
- An analyst from Goldman Sachs persists with their Neutral rating on Coinbase Glb, maintaining a target price of $215.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Coinbase Glb, targeting a price of $246.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coinbase Glb with Benzinga Pro for real-time alerts.
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