Coinbase Attracts More Bearish Bets Even After Losing 84% Year To Date

Stocks began the short holiday week moving lower on Monday, with Coinbase Global Inc. COIN being among the worst performers.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said Coinbase Global traded at 1.5 times its average daily volume on Monday.

Check out other stocks making moves in the premarket.

There were buyers of 26,348 of the November 25 weekly 35 puts at an average price of 36 cents per contract, Khouw mentioned. Traders expect Coinbase Global’s stock to finish the week lower, he stated.

COIN Price Action: Shares of Coinbase Global declined by 8.90% to settle at $41.23 on Monday.

Now Read: Bitcoin Shorts Hit 2-Year High, Ethereum Shorts Stack Up To $14M Following FTX Collapse: CoinShares

Photo: Courtesy of coinbase.com