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Deep-pocketed investors have adopted a bullish 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 71 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 47% leaning bullish and 45% bearish. Among these notable options, 12 are puts, totaling $2,194,385, and 59 are calls, amounting to $5,336,332.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $520.0 for Coinbase Glb over the last 3 months.
In today's trading context, the average open interest for options of Coinbase Glb stands at 1007.28, with a total volume reaching 61,204.00. 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 $100.0 to $520.0, throughout the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COIN | PUT | SWEEP | BEARISH | 05/03/24 | $25.15 | $24.15 | $24.15 | $247.50 | $1.7M | 37 | 1 |
| COIN | CALL | SWEEP | BULLISH | 05/03/24 | $16.5 | $15.45 | $16.5 | $240.00 | $1.6M | 633 | 1.1K |
| COIN | CALL | TRADE | BEARISH | 05/17/24 | $19.1 | $18.6 | $18.6 | $250.00 | $548.7K | 1.7K | 1.2K |
| COIN | CALL | TRADE | NEUTRAL | 12/20/24 | $25.2 | $23.9 | $24.5 | $450.00 | $245.0K | 1.3K | 250 |
| COIN | CALL | SWEEP | BEARISH | 05/03/24 | $15.55 | $15.2 | $15.2 | $240.00 | $152.0K | 633 | 7.8K |
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.
In the last month, 5 experts released ratings on this stock with an average target price of $248.0.
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.
Posted In: COIN
