Deep-pocketed investors have adopted a bearish approach towards Coinbase Global COIN

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.

Deep-pocketed investors have set a bearish tone on Coinbase Global (NASDAQ:COIN) – and it's a move that market participants may want to pay close attention to.

Tracking public options records at Benzinga unveiled this significant move today. While the identity of these investors remains undisclosed, such a substantial move in COIN usually suggests something big is about to happen.

This information was gleaned from observations today when Benzinga's options scanner highlighted 14 extraordinary options activities. At this level, it's clear that these investors are making a statement with their moves.

The general mood among these heavyweight investors is divided, with 14% exhibiting bullish sentiment and 28% bearish. Among these notable options, 11 are puts, accumulating to $504,274, while 3 are calls, amounting to $175,361.

Projected Price Targets

Considering the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $187.5 to $660.0 for Coinbase Global over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Coinbase Global'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 Global's whale trades within a strike price range from $187.5 to $660.0 in the last 30 days.

Significant Options Trades Detected:

Coinbase Global (COIN) - Call Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Call Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

Coinbase Global (COIN) - Put Trade

About Coinbase Global

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 light of the recent options history for Coinbase Global, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Coinbase Global

Professional Analyst Ratings for Coinbase Global

In the last month, 5 experts released ratings on this stock with an average target price of $331.2.