This Is What Whales Are Betting On Coinbase Glb

Investors with a lot of money to spend have taken a bullish stance on Coinbase Glb COIN.

And retail traders should know.

We noticed this today when the trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 68 uncommon options trades for Coinbase Glb.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 41%, bearish.

Out of all of the special options we uncovered, 26 are puts, for a total amount of $2,225,915, and 42 are calls, for a total amount of $7,033,127.

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 $140.0 to $520.0 for Coinbase Glb over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Coinbase Glb options trades today is 1638.41 with a total volume of 18,481.00.

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 $140.0 to $520.0 over the last 30 days.

Coinbase Glb Option Activity Analysis: 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.

After a thorough review of the options trading surrounding Coinbase Glb, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Coinbase Glb Standing Right Now?

• With a trading volume of 3,173,664, the price of COIN is down by -3.05%, reaching $199.93.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 70 days from now.

What The Experts Say On Coinbase Glb

5 market experts have recently issued ratings for this stock, with a consensus target price of $257.4.

• An analyst from Canaccord Genuity downgraded its action to Buy with a price target of $280.
• An analyst from Barclays persists with their Underweight rating on Coinbase Glb, maintaining a target price of $206.
• An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Coinbase Glb, which currently sits at a price target of $295.
• An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $260.
• An analyst from B of A Securities has decided to maintain their Neutral rating on Coinbase Glb, which currently sits at a price target of $246.

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.