Mixed options sentiment in Coinbase (COIN), with shares up $1.14, or 0.65%, near $176.32. Options volume relatively light with 99k contracts traded and calls leading puts for a put/call ratio of 0.56, compared to a typical level near 0.82. Implied volatility (IV30) dropped 3.51 near 74.6, in the highest 10% of observations over the past year, suggesting an expected daily move of $8.29. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Underweight at Barclays.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COIN:
- Midday Fly By: Delta reports Q1 beat, Bed Bath & Beyond to buy F9 Brands
- Crypto Currents: Morgan Stanley’s bitcoin ETF debut meets ceasefire rally
- Barclays Downgrades Coinbase Global Stock (COIN) to Sell, Says ‘Decline in Volumes Will Weigh on Profitability’
- Coinbase downgraded, Deere upgraded: Wall Street’s top analyst calls
- Morgan Stanley Investment Management launches Morgan Stanley Bitcoin Trust