Spotlight on Coinbase Glb: Analyzing the Surge in Options Activity

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 9 uncommon options trades for Coinbase Glb.

This isn't normal.

The overall sentiment of these big-money traders is split between 11% bullish and 33%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $663,975, and 5 are calls, for a total amount of $530,321.

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 $520.0 for Coinbase Glb during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Coinbase Glb stands at 368.5, with a total volume reaching 472.00. 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 $520.0, throughout the last 30 days.

Coinbase Glb Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
COIN PUT TRADE NEUTRAL 09/20/24 $236.95 $233.35 $235.25 $440.00 $470.5K 7 0
COIN CALL TRADE BULLISH 09/20/24 $9.7 $9.4 $9.7 $320.00 $290.0K 546 299
COIN PUT TRADE NEUTRAL 05/31/24 $86.55 $83.55 $85.2 $290.00 $136.3K 0 16
COIN CALL TRADE NEUTRAL 06/20/25 $16.25 $15.05 $15.75 $520.00 $126.0K 656 80
COIN CALL TRADE NEUTRAL 05/17/24 $54.95 $52.95 $53.9 $150.00 $53.9K 81 10

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

  • Trading volume stands at 1,452,776, with COIN's price up by 1.08%, positioned at $203.09.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 80 days.

Expert Opinions on Coinbase Glb

5 market experts have recently issued ratings for this stock, with a consensus target price of $255.4.

  • Consistent in their evaluation, an analyst from Bernstein keeps a Market Perform rating on Coinbase Glb with a target price of $200.
  • An analyst from Goldman Sachs persists with their Neutral rating on Coinbase Glb, maintaining a target price of $255.
  • Maintaining their stance, an analyst from HC Wainwright & Co. continues to hold a Buy rating for Coinbase Glb, targeting a price of $300.
  • An analyst from Oppenheimer persists with their Outperform rating on Coinbase Glb, maintaining a target price of $282.
  • Maintaining their stance, an analyst from Keefe, Bruyette & Woods continues to hold a Market Perform rating for Coinbase Glb, targeting a price of $240.

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...