Behind the Scenes of Coinbase Glb’s Latest Options Trends

Mar 28, 2024

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 positions 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.

Today, Benzinga’s options scanner spotted 8 options trades for Coinbase Glb.

This isn’t normal.

The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $42,056, and 7, calls, for a total amount of $1,024,333.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $250.0 to $470.0 for Coinbase Glb over the last 3 months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Coinbase Glb’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Coinbase Glb’s substantial trades, within a strike price spectrum from $250.0 to $470.0 over the preceding 30 days.

Coinbase Glb 30-Day Option Volume & Interest Snapshot

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
COIN CALL SWEEP BULLISH 04/19/24 $300.00 $324.0K 13.6K 11
COIN CALL SWEEP BULLISH 03/28/24 $260.00 $209.9K 1.4K 1.1K
COIN CALL TRADE BULLISH 04/19/24 $270.00 $207.5K 1.3K 109
COIN CALL SWEEP BULLISH 03/28/24 $270.00 $153.8K 4.4K 1.4K
COIN CALL TRADE BEARISH 05/03/24 $270.00 $57.6K 49 21

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.

Where Is Coinbase Glb Standing Right Now?

  • With a volume of 483,044, the price of COIN is up 1.37% at $260.21.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 35 days.

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.

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