Check Out What Whales Are Doing With COIN

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 positions 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.

Today, Benzinga's options scanner spotted 28 options trades for Coinbase Glb.

This isn't normal.

The overall sentiment of these big-money traders is split between 39% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $41,300, and 27, calls, for a total amount of $3,362,100.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $150.0 to $210.0 for Coinbase Glb during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Coinbase Glb stands at 2332.67, with a total volume reaching 8,627.00. 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 $150.0 to $210.0, 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.

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

• With a trading volume of 1,021,364, the price of COIN is up by 0.07%, reaching $169.04.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 23 days from now.

What Analysts Are Saying About Coinbase Glb

1 market experts have recently issued ratings for this stock, with a consensus target price of $175.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Coinbase Glb, targeting a price of $175.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Coinbase Glb, Benzinga Pro gives you real-time options trades alerts.