A Closer Look at Coinbase Glb's Options Market Dynamics - Coinbase Global (NASDAQ:COIN)

Investors with a lot of money to spend have taken a bullish stance on Coinbase Glb (NASDAQ: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 30 uncommon options trades for Coinbase Glb.

This isn't normal.

The overall sentiment of these big-money traders is split between 56% bullish and 30%, bearish.

Out of all of the special options we uncovered, 18 are puts, for a total amount of $1,061,588, and 12 are calls, for a total amount of $838,668.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $570.0 for Coinbase Glb during the past quarter.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Coinbase Glb's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Coinbase Glb's significant trades, within a strike price range of $200.0 to $570.0, over the past month.

Coinbase Glb Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
COIN	CALL	SWEEP	NEUTRAL	11/29/24	$21.25	$18.15	$19.43	$285.00	$171.0K	371	22
COIN	CALL	SWEEP	BEARISH	12/20/24	$9.2	$7.65	$8.44	$380.00	$155.2K	997	192
COIN	PUT	TRADE	BULLISH	12/06/24	$14.8	$13.9	$14.17	$300.00	$141.7K	885	49
COIN	CALL	TRADE	BEARISH	12/20/24	$21.5	$21.0	$21.0	$320.00	$105.0K	2.8K	6
COIN	CALL	TRADE	BEARISH	12/20/24	$21.5	$21.0	$21.0	$320.00	$105.0K	2.8K	106

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.

Coinbase Glb's Current Market Status

With a trading volume of 1,010,886, the price of COIN is down by -2.78%, reaching $303.55.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 79 days from now.

Expert Opinions on Coinbase Glb

5 market experts have recently issued ratings for this stock, with a consensus target price of $265.0.

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. * Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Coinbase Glb, targeting a price of $280. * An analyst from Mizuho persists with their Underperform rating on Coinbase Glb, maintaining a target price of $178. * An analyst from Oppenheimer has decided to maintain their Outperform rating on Coinbase Glb, which currently sits at a price target of $358. * Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Coinbase Glb with a target price of $214. * Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $295.

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.

COINCoinbase Global Inc

$148.85-0.14%

Overview

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