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 41 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 29% leaning bullish and 63% bearish. Among these notable options, 11 are puts, totaling $870,067, and 30 are calls, amounting to $2,192,222.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $300.0 for Coinbase Glb over the recent three months.
Analyzing Volume & Open Interest
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 $40.0 to $300.0 in the last 30 days.
Coinbase Glb 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COIN | PUT | TRADE | BEARISH | 08/16/24 | $15.2 | $14.8 | $15.2 | $210.00 | $410.4K | 2.2K | 90 |
| COIN | CALL | SWEEP | BEARISH | 07/19/24 | $29.55 | $27.25 | $27.25 | $200.00 | $408.7K | 1.4K | 0 |
| COIN | CALL | TRADE | BULLISH | 07/19/24 | $27.2 | $26.4 | $27.2 | $200.00 | $408.0K | 1.4K | 0 |
| COIN | PUT | SWEEP | BEARISH | 08/16/24 | $7.5 | $7.45 | $7.5 | $190.00 | $127.5K | 601 | 57 |
| COIN | CALL | TRADE | BULLISH | 08/02/24 | $14.1 | $12.75 | $13.56 | $230.00 | $117.9K | 335 | 40 |
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
Current Position of Coinbase Glb
- Currently trading with a volume of 3,002,858, the COIN's price is down by -1.77%, now at $219.71.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 24 days.
Professional Analyst Ratings for Coinbase Glb
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $315.0.
- Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $315.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
