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

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 35 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 34% leaning bullish and 65% bearish. Among these notable options, 4 are puts, totaling $170,645, and 31 are calls, amounting to $2,664,926.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $105.0 and $400.0 for Coinbase Glb, spanning the last three months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Coinbase Glb's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Coinbase Glb's whale activity within a strike price range from $105.0 to $400.0 in the last 30 days.

Coinbase Glb 30-Day Option Volume & Interest Snapshot

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.

After a thorough review of the options trading surrounding Coinbase Glb, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Coinbase Glb

• Trading volume stands at 2,430,416, with COIN's price up by 0.04%, positioned at $251.1.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 21 days.

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 $239.2.

• An analyst from Canaccord Genuity has revised its rating downward to Buy, adjusting the price target to $240.
• An analyst from JP Morgan persists with their Neutral rating on Coinbase Glb, maintaining a target price of $150.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on Coinbase Glb, which currently sits at a price target of $276.
• Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Coinbase Glb, targeting a price of $230.
• Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Coinbase Glb with a target price of $300.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coinbase Glb with Benzinga Pro for real-time alerts.