Coinbase Global Attracts Bearish Bets Even Amid Crypto Market Slump

Following data showing U.S. inflation had cooled in October, cryptocurrencies recorded gains on Thursday.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Coinbase Global Inc. COIN traded 2 times its average daily options volume on Thursday.

Check out other stocks making moves in the premarket.

There were buyers of 26,234 of the November 18 weekly 50 puts at an average price of $4.21 per contract, Khouw mentioned. Traders expect Coinbase Global’s stock to decline by at least 10% by Friday expiration, he added.

COIN Price Action: Shares of Coinbase Global had risen by 10.74% to close at $50.92 on Thursday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: Short IdeasOptionsTop StoriesMarketsMediaTrading IdeasCNBCMichael KhouwOptimize Advisors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!