Whales, or large investors, are showing a significantly bullish sentiment towards Coinbase Global (NASDAQ:COIN), as indicated by recent options trading activity. A total of 35 notable trades have been recorded, revealing that 37% of these investors entered trades with bullish expectations, while 34% took a bearish position. The analysis of these trades shows that there were 16 put options, totaling $2,478,336, compared to 19 call options amounting to $1,353,282.
In examining projected price targets, it appears that these major players are eyeing a price range for Coinbase Global that spans from $5.00 to $400.00 for the forthcoming quarter. The average open interest for options within this framework is currently at 1,847.28, with a total trading volume reaching 7,608.00. A detailed chart illustrates the evolution of both call and put option volumes as well as open interest for significant trades across this strike price corridor over the past month.
As for Coinbase Global’s current market status, trading volume has hit 4,920,233, with the stock price slightly up by 0.3% at $164.55. Relative Strength Index (RSI) indicators suggest that the stock may be nearing oversold levels, a potential signal for future price movement. Investors should also be aware that an earnings announcement is anticipated in 77 days, which could further impact market sentiment.
In recent assessments, five industry experts have provided ratings on Coinbase Global, averaging a target price of $252.20. While trading options can present higher risks than traditional stock trading, they also come with enhanced profit potential. Experienced options traders often manage these risks by continuously educating themselves, strategically scaling in and out of trades, and closely monitoring market indicators.
Overall, the landscape surrounding Coinbase Global is characterized by intriguing dynamics, influenced by the actions of high-value investors and the overall sentiment reflected in the options market.
