Big-time investors have taken a bearish stance on Coinbase Glb COIN, an ominous sign that should not be overlooked. Benzinga’s monitoring of public options records today brought this significant move to light. The identities of these investors remain unknown, but such a substantial shift in COIN typically signals an impending event of consequence.
Our observations at Benzinga revealed 27 abnormal options activities for Coinbase Glb, an uncommonly high level of activity.
The prevailing sentiment among these heavyweight investors is mixed, with 40% leaning bullish and 59% bearish. Among these noteworthy options, 9 are puts, amounting to $368,219, and 18 are calls, totaling $1,664,390.
Forecasting the Price Target
Based on trading volumes and Open Interest, it is apparent that major market players are eyeing a price range of $85.0 to $200.0 for Coinbase Glb over the past three months.
Comprehensive Insights into Volume & Open Interest
In terms of liquidity and interest, the average open interest for Coinbase Glb options trades today is 1557.04 with a total volume of 4,918.00.
The chart below graphically depicts the evolution of volume and open interest of call and put options for Coinbase Glb’s significant trades within a strike price range of $85.0 to $200.0 over the last 30 days.
Coinbase Glb Option Volume And Open Interest Over Last 30 Days
Notable Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| COIN | CALL | TRADE | BEARISH | 06/21/24 | $150.00 | $351.0K | 3.2K | 305 |
| COIN | CALL | SWEEP | NEUTRAL | 01/17/25 | $200.00 | $250.7K | 3.9K | 204 |
| COIN | CALL | SWEEP | BEARISH | 02/23/24 | $140.00 | $180.0K | 3.0K | 1.0K |
| COIN | CALL | SWEEP | BEARISH | 01/16/26 | $100.00 | $159.9K | 777 | 36 |
| COIN | CALL | SWEEP | BEARISH | 03/15/24 | $135.00 | $152.0K | 2.0K | 529 |
About Coinbase Glb
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company aims to be the secure and compliant gateway for retail investors and institutions into the cryptocurrency economy. Users can open an account directly with the firm, bypassing intermediaries, and many choose to have Coinbase act as a custodian for their cryptocurrency, thereby offering the company a scope beyond that of a conventional financial exchange. Although the majority of its revenue still comes from transaction fees levied on its retail customers, Coinbase leverages internal investment and acquisitions to diversify into adjacent ventures such as prime brokerage and data analytics.
In light of the recent options activity for Coinbase Glb, it is now fitting to turn the spotlight on the company itself. Let’s delve into its current performance.
Current Market Position of Coinbase Glb
- With a trading volume of 3,151,320, COIN’s price has risen by 0.09%, reaching $119.9.
- Current RSI values indicate that the stock is currently neutral and oscillating between overbought and oversold levels.
- The next earnings report is scheduled for 8 days from now.
Professional Analyst Ratings for Coinbase Glb
In the past month, 5 industry analysts have provided their perspectives on this stock, proposing an average target price of $126.2.
- An analyst from Oppenheimer upgraded its recommendation to Outperform with a price target of $160.
- An analyst from Citigroup maintains a Neutral rating on Coinbase Glb, with a target price of $151.
- In a cautious move, an analyst from JP Morgan downgraded its rating to Underweight, setting a price target of $80.
- Sticking to its viewpoint, an analyst from Mizuho continues to hold an Underperform rating for Coinbase Glb, targeting a price of $60.
- Consistently in its evaluation, an analyst from Wedbush maintains an Outperform rating on Coinbase Glb, with a target price of $180.
Options trading comes with increased risks and potential rewards. Savvy traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and closely following market movements. Stay updated on the latest Coinbase Glb options trades with real-time alerts from Benzinga Pro.
