High-rolling investors have positioned themselves bearish on Coinbase Glb (NASDAQ:COIN), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in COIN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Coinbase Glb. This is not a typical pattern.
The sentiment among these major traders is split, with 12% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $29,366, and 7 calls, totaling $401,686.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $180.0 and $500.0 for Coinbase Glb, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Coinbase Glb stands at 2660.25, with a total volume reaching 39.00. 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 $180.0 to $500.0, throughout the last 30 days.
Coinbase Glb 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COIN | CALL | TRADE | BEARISH | 10/18/24 | $37.75 | $35.7 | $36.33 | $220.00 | $108.9K | 1.0K | 4 |
| COIN | CALL | SWEEP | NEUTRAL | 09/20/24 | $32.7 | $32.0 | $32.36 | $220.00 | $97.1K | 1.8K | 30 |
| COIN | CALL | TRADE | BEARISH | 09/20/24 | $25.0 | $22.8 | $23.0 | $240.00 | $57.5K | 1.2K | 0 |
| COIN | CALL | TRADE | BEARISH | 07/19/24 | $47.75 | $44.9 | $45.85 | $180.00 | $45.8K | 290 | 0 |
| COIN | CALL | SWEEP | BEARISH | 08/16/24 | $31.45 | $30.5 | $30.5 | $210.00 | $36.6K | 218 | 5 |
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.
Following our analysis of the options activities associated with Coinbase Glb, we pivot to a closer look at the company's own performance.
Where Is Coinbase Glb Standing Right Now?
- Trading volume stands at 761,323, with COIN's price down by -0.84%, positioned at $225.6.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 29 days.
What The Experts Say On Coinbase Glb
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $287.5.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $260.
- An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $315.
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.