Investors with a lot of money to spend have taken a bullish stance on Coinbase Global (NASDAQ:COIN).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with COIN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga‘s options scanner spotted 90 uncommon options trades for Coinbase Global.
This isn’t normal.
The overall sentiment of these big-money traders is split between 68% bullish and 25%, bearish.
Out of all of the special options we uncovered, 13 are puts, for a total amount of $1,400,277, and 77 are calls, for a total amount of $6,710,974.
What’s The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $400.0 for Coinbase Global during the past quarter.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Coinbase Global’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Coinbase Global’s significant trades, within a strike price range of $5.0 to $400.0, over the past month.
Coinbase Global 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
About Coinbase Global
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.
Coinbase Global’s Current Market Status
- With a trading volume of 5,903,648, the price of COIN is down by -3.73%, reaching $174.31.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 69 days from now.
What Analysts Are Saying About Coinbase Global
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $296.2.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements.