Mixed options sentiment in Coinbase (COIN), with shares down $8.02 near $246.90. Options volume roughly in line with average with 155k contracts traded and calls leading puts for a put/call ratio of 0.64, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 1.0 points near 52.07,in the lowest 10% of observations over the past year, suggesting an expected daily move of $8.10. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Goldman Sachs.
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