What Are Whales Doing With Coinbase Global

By Benzinga Insights

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 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $203,613 and 9, calls, for a total amount of $544,756.

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 $190.0 to $300.0 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 $190.0 to $300.0 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 CALL SWEEP BEARISH 01/21/22 $190.00 $134.3K 286 6
COIN CALL SWEEP BEARISH 01/14/22 $232.50 $83.0K 614 381
COIN CALL TRADE BULLISH 02/18/22 $225.00 $70.0K 71 425
COIN CALL TRADE BULLISH 02/18/22 $225.00 $62.5K 71 174
COIN PUT SWEEP NEUTRAL 01/21/22 $230.00 $47.8K 1.7K 331

Where Is Coinbase Global Standing Right Now?

  • With a volume of 1,754,057, the price of COIN is down -1.6% at $224.57.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 23 days.

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.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

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