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 8 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, 3 are puts, totaling $318,935, and 5 are calls, amounting to $508,598.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $440.0 for Coinbase Glb over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Coinbase Glb stands at 2926.83, with a total volume reaching 345.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coinbase Glb, situated within the strike price corridor from $50.0 to $440.0, throughout the last 30 days.
Coinbase Glb Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COIN | PUT | SWEEP | BULLISH | 08/16/24 | $247.6 | $244.3 | $245.45 | $440.00 | $196.3K | 0 | 2 |
| COIN | CALL | TRADE | BULLISH | 01/17/25 | $12.1 | $11.95 | $12.1 | $300.00 | $180.2K | 4.0K | 167 |
| COIN | CALL | SWEEP | BULLISH | 08/16/24 | $3.55 | $3.4 | $3.55 | $202.50 | $116.4K | 9.8K | 9 |
| COIN | CALL | SWEEP | BEARISH | 09/20/24 | $9.55 | $8.8 | $8.8 | $220.00 | $88.5K | 3.2K | 112 |
| COIN | CALL | TRADE | NEUTRAL | 08/16/24 | $146.2 | $142.2 | $144.28 | $50.00 | $86.5K | 60 | 0 |
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
- With a volume of 315,921, the price of COIN is down -0.84% at $194.65.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 80 days.
Expert Opinions on Coinbase Glb
5 market experts have recently issued ratings for this stock, with a consensus target price of $290.0.
- An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $320.
- An analyst from Needham downgraded its action to Buy with a price target of $260.
- An analyst from Compass Point has decided to maintain their Buy rating on Coinbase Glb, which currently sits at a price target of $295.
- An analyst from Canaccord Genuity downgraded its action to Buy with a price target of $280.
- Consistent in their evaluation, an analyst from HC Wainwright & Co. keeps a Buy rating on Coinbase Glb with a target price of $295.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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