Investors With a Lot of Money to Spend Have Taken a Bearish Stance on Coinbase (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

Coinbase Glb (NASDAQ:COIN) options are being watched closely by retail traders today. We noticed this after tracking the positions on the public options history.

These trades could indicate that something big is about to happen with COIN. Whether these are institutions or just wealthy individuals, it's hard to say. But when something like this happens, it usually means that somebody knows something.

Today, Benzinga's options scanner spotted 22 options trades for Coinbase Glb. This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 54%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $70,700, and 21, calls, for a total amount of $2,316,779.

Expected Price Movements

Coinbase Glb's options traders are targeting a price range from $200.0 to $400.0 for the next 3 months. This is based on the Volume and Open Interest on these contracts.

Analyzing Volume & Open Interest

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 trades within a strike price range from $200.0 to $400.0 in the last 30 days.

Coinbase Glb 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

Option Price Direction VolumeOpen InterestPremium

Coinbase Glb (Coinbase) Options Scan

Coinbase Glb Options Scan: Tracking Large Option Trades for Price Impact

Coinbase Glb (NASDAQ:COIN) is the leading cryptocurrency exchange in the U.S. and went public in April via a direct listing, with shares opening at $381. Coinbase was founded in 2012 by former Airbnb engineer Brian Armstrong and currently has a market cap of $100.2 billion.

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.

Coinbase Glb Options Scan: A Closer Look at the Company

Coinbase is the largest cryptocurrency exchange in the United States by trading volume. The company went public on the NASDAQ in April 2022 through a direct listing and began trading at $381 per share. As of March 2023, Coinbase has a market capitalization of over $100 billion.

The company was founded in 2012 by former Airbnb engineer Brian Armstrong and currently has over 1,500 employees. Coinbase is known for its user-friendly platform and broad range of cryptocurrencies, making it a popular choice for both new and experienced traders.

In addition to its main exchange, Coinbase also operates several other businesses, including a prime brokerage unit, a venture capital arm, and a data analytics company. The company has also made several acquisitions in recent years, such as the purchase of the cryptocurrency derivatives exchange FairX in 2023.

Coinbase Glb Options Scan: Key Takeaways

Coinbase is facing increasing competition from other cryptocurrency exchanges, as well as from traditional financial institutions that are entering the digital asset market. To maintain its market share and continue growing, Coinbase will need to keep adapting its strategy and expanding its product offerings.

Here are some key takeaways from analyzing Coinbase Glb's options trading patterns:

Coinbase Glb's options traders are targeting a price range from $200.0 to $400.0 for the stock over the next 3 months.

The company's options are seeing a lot of activity, with 22 trades being observed in the last day.

The large options trades are predominantly bearish, with puts outpacing calls by a ratio of 1 to 21.

Coinbase Glb is currently trading at $240.85, down 0.6% on the day.