A whale with a lot of money to spend has taken a noticeably bearish stance on Coinbase Global.
Looking at options history for Coinbase Global (NASDAQ:COIN) we detected 44 strange trades.
If we consider the specifics of each trade, it is accurate to state that 34% of the investors opened trades with bullish expectations and 65% with bearish.
From the overall spotted trades, 32 are puts, for a total amount of $2,537,295 and 12, calls, for a total amount of $695,688.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $300.0 for Coinbase Global over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Coinbase Global options trades today is 764.68 with a total volume of 14,368.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Coinbase Global's big money trades within a strike price range of $60.0 to $300.0 over the last 30 days.
Coinbase Global Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| COIN | PUT | SWEEP | BULLISH | 06/17/22 | $105.00 | $297.1K | 1.4K | 223 |
| COIN | PUT | SWEEP | BEARISH | 05/13/22 | $110.00 | $214.5K | 2.5K | 1.1K |
| COIN | PUT | TRADE | BULLISH | 01/20/23 | $195.00 | $146.2K | 277 | 15 |
| COIN | PUT | TRADE | BULLISH | 06/17/22 | $100.00 | $131.0K | 1.1K | 325 |
| COIN | PUT | TRADE | BEARISH | 05/06/22 | $110.00 | $126.9K | 1.3K | 2.0K |
Where Is Coinbase Global Standing Right Now?
- With a volume of 4,716,281, the price of COIN is down -7.01% at $106.25.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 4 days.
What The Experts Say On Coinbase Global:
- JMP Securities has decided to maintain their Market Outperform rating on Coinbase Global, which currently sits at a price target of $394.
- Goldman Sachs has decided to maintain their Buy rating on Coinbase Global, which currently sits at a price target of $240.
- Oppenheimer has decided to maintain their Outperform rating on Coinbase Global, which currently sits at a price target of $314.
- Mizuho has decided to maintain their Neutral rating on Coinbase Global, which currently sits at a price target of $150.
- Mizuho has decided to maintain their Neutral rating on Coinbase Global, which currently sits at a price target of $135.
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.
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