Benzinga | Nov 30, 2021 04:11PM EST

What Are Whales Doing With Coinbase Global

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 52 strange trades.

If we consider the specifics of each trade, it is accurate to state that 48.08% of the investors opened trades with bullish expectations and 51.92% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $354,075.00 and 42, calls, for a total amount of $2,252,117.00.

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 $135.0 to $470.0 for Coinbase Global over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Coinbase Global options trades today is 773.53 with a total volume of 22,969.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Coinbase Global's big money trades within a strike price range of $135.0 to $470.0 over the last 30 days.

Coinbase Global Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestCOIN CALL SWEEP BEARISH 01/20/ $400.00 $200.4K 3.1K 3 23COIN CALL TRADE BULLISH 01/20/ $400.00 $198.2K 3.1K 43 23COIN CALL SWEEP BEARISH 01/21/ $250.00 $99.9K 1.9K 19 22COIN CALL SWEEP BEARISH 01/21/ $420.00 $73.2K 566 126 22COIN CALL SWEEP BEARISH 01/21/ $420.00 $67.8K 566 241 22

Where Is Coinbase Global Standing Right Now?

* With a volume of 1,956,391.00, the price of COIN is up 4.17% at $315.85.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 69 days.

What The Experts Say On Coinbase Global:

* Rosenblatt has decided to maintain their Buy rating on Coinbase Global, which currently sits at a price target of $455.0.

* JMP Securities has decided to maintain their Market Outperform rating on Coinbase Global, which currently sits at a price target of $405.0.

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.

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