A whale with a lot of money to spend has taken a noticeably bullish stance on Coinbase Global.
Looking at options history for Coinbase Global (NASDAQ:COIN) we detected 40 strange trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $720,339 and 29, calls, for a total amount of $1,470,230.
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 $160.0 to $350.0 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 $160.0 to $350.0 in 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 | TRADE | BEARISH | 04/14/22 | $175.00 | $305.0K | 1.8K | 707 |
| COIN | CALL | TRADE | BULLISH | 04/14/22 | $200.00 | $205.2K | 4.0K | 1.3K |
| COIN | CALL | TRADE | BEARISH | 05/20/22 | $220.00 | $163.8K | 1.0K | 297 |
| COIN | PUT | TRADE | BULLISH | 09/16/22 | $165.00 | $94.1K | 1.1K | 53 |
| COIN | CALL | SWEEP | NEUTRAL | 04/14/22 | $180.00 | $71.9K | 647 | 298 |
Where Is Coinbase Global Standing Right Now?
- With a volume of 4,107,837, the price of COIN is down -7.73% at $176.84.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 37 days.
What The Experts Say On Coinbase Global:
- Goldman Sachs has decided to maintain their Buy rating on Coinbase Global, which currently sits at a price target of $250.
- Mizuho has decided to maintain their Neutral rating on Coinbase Global, which currently sits at a price target of $190.
- Citigroup has decided to maintain their Buy rating on Coinbase Global, which currently sits at a price target of $275.
- US Tiger Securities, Inc downgraded its action to Sell with 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.
