Behind the Scenes of Coinbase Glb's Latest Options Trends
Portfolio Pulse from Benzinga Insights
Investors have shown a bullish stance on Coinbase Global (NASDAQ:COIN), with a significant amount of money moving into options for the stock. Benzinga's options scanner revealed 8 notable trades, indicating a split sentiment with 62% bullish and 37% bearish. The trades target a price range of $250 to $470 for COIN over the next 3 months. The largest trades were bullish calls, with the highest being a $324K call for a strike price of $300. COIN's current price is $260.21, up 1.37%, with an RSI suggesting it may be approaching overbought territory. Earnings are expected in 35 days.
March 28, 2024 | 1:46 pm
News sentiment analysis
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POSITIVE IMPACT
Significant bullish options activity on Coinbase Global, with a price target range of $250-$470. Current stock price is $260.21, indicating investor optimism.
The bullish options activity, especially the large trades targeting a higher price range, suggests investor confidence in COIN's future performance. The current price increase and the approaching earnings report add to the positive outlook, although the RSI nearing overbought territory could indicate short-term volatility.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100