Deep-Pocketed Investors Have Adopted a Bearish Approach Towards Coinbase (COIN), and It's Something Market Players Shouldn't Ignore

Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COIN usually suggests something big is about to happen.

Deep-pocketed investors are adopting a bearish approach towards Coinbase Glb (NASDAQ:COIN), and it's something market participants shouldn't ignore. Tracking public options records at Benzinga unveiled this significant move today.

While the identity of these investors remains unknown, such a substantial move in COIN usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Coinbase Glb. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 22% leaning bullish and 55% bearish. Among these notable options, 3 are puts, totaling $309,412, and 6 are calls, amounting to $477,603.

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $280.0 to $400.0 for Coinbase Glb during the past quarter.

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Coinbase Glb's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Coinbase Glb's substantial trades, within a strike price spectrum from $280.0 to $400.0 over the preceding 30 days.

Coinbase Glb 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

Options trades are typically standardized contracts involving the purchase or sale of a specified number of shares of an underlying stock at a particular price on or before a specific date. These trades can be used to either hedge against potential losses or gain exposure to price movements in the stock.

In the realm of options trading, several types of trades stand out due to their magnitude and ability to influence the market. These trades, often executed by institutions or hedge funds, can span a diverse range of strategies, from directional bets to complex neutral trades.

Our technology scans the market for substantial options trades, updating traders on the latest large trades throughout the day. The goal is to provide traders with an early edge and the ability to follow the footprints of "smart money" into and out of the market.

Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. 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. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.

Having examined the options trading patterns of Coinbase Glb, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $233.8.

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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 want to stay updated on the latest options trades for Coinbase Glb, Benzinga Pro gives you real-time options trades alerts.

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