Deep-pocketed investors have adopted a bearish approach towards Coinbase Glb (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 28 extraordinary options activities for Coinbase Glb. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 46% bearish. Among these notable options, 3 are puts, totaling $113,040, and 25 are calls, amounting to $1,488,859.
What’s The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $400.0 for Coinbase Glb over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Coinbase Glb’s options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Coinbase Glb’s whale activity within a strike price range from $200.0 to $400.0 in the last 30 days.
Coinbase Glb 30-Day Option Volume & Interest Snapshot
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 | BEARISH | 07/19/24 | $8.8 | $8.65 | $8.65 | $300.00 | $256.0K | 6.0K | 1.5K |
| COIN | CALL | TRADE | NEUTRAL | 07/19/24 | $6.55 | $6.15 | $6.35 | $310.00 | $189.8K | 1.4K | 382 |
| COIN | CALL | SWEEP | BULLISH | 08/16/24 | $7.25 | $6.95 | $7.25 | $370.00 | $123.2K | 36 | 320 |
| COIN | CALL | SWEEP | BULLISH | 08/16/24 | $7.25 | $6.8 | $7.25 | $370.00 | $94.9K | 36 | 140 |
| COIN | CALL | TRADE | BEARISH | 06/07/24 | $10.75 | $9.9 | $10.21 | $225.00 | $84.7K | 1.0K | 328 |
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.
Present Market Standing of Coinbase Glb
- Trading volume stands at 3,457,470, with COIN’s price up by 0.65%, positioned at $227.39.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 59 days.
Professional Analyst Ratings for Coinbase Glb
In the last month, 3 experts released ratings on this stock with an average target price of $225.33333333333334.
- An analyst from Goldman Sachs has decided to maintain their Neutral rating on Coinbase Glb, which currently sits at a price target of $255.
- In a positive move, an analyst from B of A Securities has upgraded their rating to Neutral and adjusted the price target to $217.
- Maintaining their stance, an analyst from Barclays continues to hold a Underweight rating for Coinbase Glb, targeting a price of $204.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coinbase Glb with Benzinga Pro for real-time alerts.
