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 58 uncommon options trades for Coinbase Glb.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 41%, bearish.
Out of all of the special options we uncovered, 19 are puts, for a total amount of $1,381,913, and 39 are calls, for a total amount of $4,690,886.
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 $135.0 to $400.0 for Coinbase Glb during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Coinbase Glb options trades today is 3277.28 with a total volume of 25,567.00.
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 $135.0 to $400.0 over the last 30 days.
Coinbase Glb Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COIN | CALL | TRADE | BULLISH | 12/20/24 | $8.0 | $7.8 | $8.0 | $280.00 | $609.6K | 3.3K | 1.0K |
| COIN | CALL | SWEEP | BEARISH | 01/17/25 | $8.6 | $8.5 | $8.6 | $300.00 | $558.5K | 11.2K | 1.2K |
| COIN | PUT | SWEEP | NEUTRAL | 08/15/25 | $40.1 | $40.05 | $40.1 | $195.00 | $404.5K | 136 | 101 |
| COIN | CALL | SWEEP | BULLISH | 11/15/24 | $18.95 | $18.9 | $18.95 | $215.00 | $263.2K | 267 | 96 |
| COIN | PUT | SWEEP | BULLISH | 01/17/25 | $43.5 | $43.35 | $43.35 | $240.00 | $195.0K | 1.3K | 52 |
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.
Present Market Standing of Coinbase Glb
- With a volume of 3,645,844, the price of COIN is down -0.52% at $218.51.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 0 days.
What The Experts Say On Coinbase Glb
In the last month, 5 experts released ratings on this stock with an average target price of $244.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $320. * An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $295. * Reflecting concerns, an analyst from B. Riley Securities lowers its rating to Neutral with a new price target of $185. * An analyst from Monness, Crespi, Hardt downgraded its action to Buy with a price target of $245. * Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Coinbase Glb, targeting a price of $175.
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.
© 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.
