Coinbase Glb Options Trading: A Deep Dive into Market Sentiment

Deep-pocketed investors have adopted a bearish approach towards Coinbase Glb COIN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COIN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 27 extraordinary options activities for Coinbase Glb. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 59% bearish. Among these notable options, 9 are puts, totaling $368,219, and 18 are calls, amounting to $1,664,390.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $200.0 for Coinbase Glb, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Coinbase Glb options trades today is 1557.04 with a total volume of 4,918.00.

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 $85.0 to $200.0 over the last 30 days.

Coinbase Glb Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

In light of the recent options history for Coinbase Glb, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Coinbase Glb

• With a trading volume of 3,151,320, the price of COIN is up by 0.09%, reaching $119.9.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 8 days from now.

Professional Analyst Ratings for Coinbase Glb

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

• An analyst from Oppenheimer upgraded its action to Outperform with a price target of $160.
• An analyst from Citigroup persists with their Neutral rating on Coinbase Glb, maintaining a target price of $151.
• In a cautious move, an analyst from JP Morgan downgraded its rating to Underweight, setting a price target of $80.
• Maintaining their stance, an analyst from Mizuho continues to hold a Underperform rating for Coinbase Glb, targeting a price of $60.
• Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Coinbase Glb with 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.