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 22 uncommon options trades for Coinbase Glb.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 36%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $246,290, and 18 are calls, for a total amount of $2,865,906.
Projected Price Targets
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 $350.0 for Coinbase Glb during the past quarter.
Analyzing 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 $350.0 in the last 30 days.
Coinbase Glb Option Volume And Open Interest Over Last 30 Days
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 | 11/15/24 | $81.6 | $81.0 | $81.0 | $200.00 | $405.0K | 416 | 200 |
| COIN | CALL | TRADE | BEARISH | 11/15/24 | $81.75 | $81.0 | $81.0 | $200.00 | $405.0K | 416 | 150 |
| COIN | CALL | TRADE | BEARISH | 11/15/24 | $81.9 | $81.0 | $81.0 | $200.00 | $405.0K | 416 | 50 |
| COIN | CALL | TRADE | BULLISH | 11/15/24 | $80.8 | $80.8 | $80.8 | $200.00 | $404.0K | 416 | 300 |
| COIN | CALL | SWEEP | BULLISH | 11/15/24 | $78.55 | $76.35 | $77.64 | $200.00 | $388.9K | 416 | 600 |
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.
Having examined the options trading patterns of Coinbase Glb, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Coinbase Glb
- With a volume of 1,999,316, the price of COIN is down -2.48% at $251.23.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
What The Experts Say On Coinbase Glb
4 market experts have recently issued ratings for this stock, with a consensus target price of $254.0.
- An analyst from Barclays has decided to maintain their Underweight rating on Coinbase Glb, which currently sits at a price target of $196.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Neutral rating for Coinbase Glb, targeting a price of $215.
- In a positive move, an analyst from Citigroup has upgraded their rating to Buy and adjusted the price target to $345.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $260.
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.