Mixed options sentiment in Coinbase (COIN), with shares down $2.02 near $195.74. Options volume relatively light with 69k contracts traded and calls leading puts for a put/call ratio of 0.87, compared to a typical level near 0.47. Implied volatility (IV30) dropped 1.09 near 72.56,in the top quartile of the past year, suggesting an expected daily move of $8.95. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Coinbase (COIN) will report earnings after the close on 2026-05-07.Option markets are pricing in a 50% probability of a move greater than 9.68% or $18.95.
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