Investors are demonstrating a notably optimistic outlook on Coinbase Global (NASDAQ:COIN), as revealed by recent trading activity tracked by Benzinga. The surge in options trades, particularly those deemed “uncommon,” signals that significant players—potentially institutions or affluent individuals—may have insights into pending developments concerning the cryptocurrency exchange platform.
Benzinga’s options scanner highlighted an impressive 107 trades associated with Coinbase Global today. The breakdown of sentiment among these traders reveals a split: 46% are leaning bullish, while 31% are taking a bearish stance. This pronounced activity features 33 put options amounting to approximately $3.6 million and 74 call options totaling around $4.3 million. The trading patterns suggest that large investors might be eyeing a price trajectory for Coinbase stretching from a low of $2.5 to a high of $650 over the coming three months.
Analyzing the options market involves looking closely at volume and open interest, which can provide valuable insights into the liquidity and interest levels for Coinbase’s options at various strike prices. Over the past 30 days, the evolution of call and put options associated with significant investment activity has been noteworthy.
Key options activity observed includes various trades with differing sentiment:
– A substantial put option ticket for Coinbase with a bullish sentiment, set to expire on June 18, 2026, involved a total trade amount of $1.4 million for a strike price of $250.
– A call trade, also with a bullish outlook due to expire on January 15, 2027, had a trade price close to $564,200, targeting a strike price of $200.
– Other notable activities included call options with varying levels of bullish and neutral sentiment at strike prices ranging from $160 to $250.
Coinbase Global, founded in 2012, stands as the leading cryptocurrency exchange in the United States, aiming to serve as a reliable and regulated entry point for both retail investors and institutions into the cryptocurrency marketplace. Users can directly create accounts with Coinbase, which also acts as a custodian for cryptocurrencies, extending its operations beyond traditional trading services. The majority of the company’s revenue still stems from the transaction fees charged to retail customers, but it is diversifying through internal investments and acquisitions to delve into adjacent sectors like prime brokerage and data analytics.
As of now, Coinbase’s market performance shows a current stock price of $246.42, having experienced a slight increase of 0.2%. With a trading volume of approximately 4.9 million, indicators suggest the stock is neither overbought nor oversold, standing at a neutral position. The next earnings report is eagerly anticipated in about 35 days.
Market analysts are providing varied opinions on Coinbase Global. A consensus target price among five experts has been set at $287.8. Additionally, analysts from various firms have issued differing ratings: Deutsche Bank recently downgraded its stance to a Buy, adjusting its target to $340, while Compass Point maintains a Sell rating at $230. Barclays holds a steady Equal-Weight rating with a target of $258, and Cantor Fitzgerald continues with an Overweight rating setting a price target of $320.
Investing in options typically entails higher risks compared to traditional stock trading, yet they can offer greater profit potential. Experienced options traders mitigate these risks through continuous education, strategic trade management, and close monitoring of market conditions.
