Check Out What Whales Are Doing With COIN

Investors with a lot of money to spend have taken a bullish stance on Coinbase Global 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 47 uncommon options trades for Coinbase Global.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 36%, bearish.

Out of all of the special options we uncovered, 17 are puts, for a total amount of $990,023, and 30 are calls, for a total amount of $1,756,437.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2.5 to $380.0 for Coinbase Global during the past quarter.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Coinbase Global'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 Global's whale activity within a strike price range from $2.5 to $380.0 in the last 30 days.

Coinbase Global Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Coinbase Global

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 Global, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Coinbase Global

• With a trading volume of 3,921,786, the price of COIN is up by 3.23%, reaching $183.22.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 48 days from now.

What Analysts Are Saying About Coinbase Global

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $315.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $350. * An analyst from Mizuho has decided to maintain their Neutral rating on Coinbase Global, which currently sits at a price target of $217. * An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Coinbase Global, which currently sits at a price target of $350. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $330. * Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Coinbase Global with a target price of $328.

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 Global options trades with real-time alerts from Benzinga Pro.