Benzinga | Dec 27, 2021 03:35PM EST

What Are Whales Doing With Coinbase Global

A whale with a lot of money to spend has taken a noticeably bullish 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 61% of the investors opened trades with bullish expectations and 38% with bearish.

From the overall spotted trades, 22 are puts, for a total amount of $2,270,022 and 30, calls, for a total amount of $1,507,506.

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 $170.0 to $460.0 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 949.09 with a total volume of 31,000.00.

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 $170.0 to $460.0 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 PUT TRADE BULLISH 01/20/ $290.00 $710.0K 180 100 23COIN PUT SWEEP BEARISH 02/18/ $360.00 $344.4K 22 40 22COIN PUT SWEEP BULLISH 01/21/ $395.00 $278.4K 211 24 22COIN PUT SWEEP BULLISH 01/21/ $395.00 $174.4K 211 39 22COIN CALL TRADE BULLISH 01/07/ $200.00 $155.5K 29 25 22

Where Is Coinbase Global Standing Right Now?

* With a volume of 3,516,495, the price of COIN is up 4.6% at $280.47.

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

* Next earnings are expected to be released in 41 days.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.