Decoding Coinbase Glb's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bearish 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 9 uncommon options trades for Coinbase Glb.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $166,341, and 7 are calls, for a total amount of $289,672.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $160.0 for Coinbase Glb during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Coinbase Glb stands at 1463.0, with a total volume reaching 188.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coinbase Glb, situated within the strike price corridor from $70.0 to $160.0, throughout the last 30 days.

Coinbase Glb Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

Having examined the options trading patterns of Coinbase Glb, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Coinbase Glb's Current Market Status

• Currently trading with a volume of 2,023,978, the COIN's price is down by -1.23%, now at $129.21.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 15 days.

Expert Opinions on Coinbase Glb

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $126.2.

• Maintaining their stance, an analyst from Mizuho continues to hold a Underperform rating for Coinbase Glb, targeting a price of $60.
• An analyst from Oppenheimer has elevated its stance to Outperform, setting a new price target at $160.
• Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Coinbase Glb, targeting a price of $151.
• An analyst from JP Morgan has revised its rating downward to Underweight, adjusting the price target to $80.
• An analyst from Wedbush persists with their Outperform rating on Coinbase Glb, maintaining a target price of $180.

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