Deep-pocketed investors have adopted a bearish approach towards Coinbase Global (NASDAQ: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 44 extraordinary options activities for Coinbase Global. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 36% leaning bullish and 40% bearish. Among these notable options, 20 are puts, totaling $745,142, and 24 are calls, amounting to $1,692,154.

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 $7.5 to $400.0 for Coinbase Global during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Coinbase Global stands at 1400.43, with a total volume reaching 6,070.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coinbase Global, situated within the strike price corridor from $7.5 to $400.0, throughout the last 30 days.

Coinbase Global 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Coinbase Global

Having examined the options trading patterns of Coinbase Global, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Coinbase Global's Current Market Status

• Trading volume stands at 2,481,847, with COIN's price down by -4.24%, positioned at $180.95.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 44 days.

Professional Analyst Ratings for Coinbase Global

In the last month, 5 experts released ratings on this stock with an average target price of $297.4.

Turn $1000 into $1270 in just 20 days?

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