Investors Take Divergent Stance on Coinbase Global as Unusual Options Activities Raise Eyebrows

Deep-pocketed investors have recently taken a bearish stance on Coinbase Glb (COIN), a move that could have significant implications for the market. Benzinga’s public options records revealed that 59 extraordinary options activities were recorded for Coinbase Glb. This level of activity is considered unusual and has caught the attention of market players. The sentiment among these investors appears to be divided, with 37% leaning bullish and 47% bearish on the future of COIN.

The identified options activities include 5 puts totaling $604,430 and 54 calls amounting to $4,867,213, suggesting a wide range of price targets. The analysis indicates that whales have been targeting a price range of $200.0 to $400.0 for Coinbase Glb over the last 3 months. The mean open interest for Coinbase Glb options trades today stands at 2336.6 with a total volume of 35,886.00, reflecting a high level of interest and liquidity in the market. The company, established in 2012, focuses on being a safe and regulation-compliant entry point for retail and institutional investors into the cryptocurrency market.

Industry analysts have proposed an average target price of $242.0 for COIN, providing additional insights into the company’s performance. While options trading carries higher risk compared to stocks, they also offer higher profit potential for traders who manage their risks effectively. For those interested in staying updated on the latest options trades for Coinbase Glb, Benzinga Pro offers real-time options trades alerts and valuable market insights.