This Is What Whales Are Betting On Coinbase Glb

Someone with a lot of money to spend has taken a bearish stance on Coinbase Glb COIN.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 66 uncommon options trades for Coinbase Glb.

This isn't normal.

The overall sentiment of these big-money traders is split between 48% bullish and 51%, bearish.

Out of all of the special options we uncovered, 45 are puts, for a total amount of $2,419,345, and 21 are calls, for a total amount of $1,774,725.

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 $20.0 to $145.0 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 3050.17 with a total volume of 87,063.00.

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 $20.0 to $145.0 over the last 30 days.

Coinbase Glb Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Coinbase Glb Standing Right Now?

• With a volume of 15,793,053, the price of COIN is up 1.47% at $63.57.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 55 days.

What The Experts Say On Coinbase Glb:

• Barclays has decided to maintain their Equal-Weight rating on Coinbase Glb, which currently sits at a price target of $63.
• Piper Sandler has decided to maintain their Overweight rating on Coinbase Glb, which currently sits at a price target of $70.
• Wells Fargo has decided to maintain their Underweight rating on Coinbase Glb, which currently sits at a price target of $40.
• JMP Securities downgraded its action to Market Outperform with a price target of $80
• JMP Securities downgraded its action to Market Outperform with a price target of $90

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.