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Moderately bullish activity in Coinbase with shares up 2.35%

Moderately bullish activity in Coinbase (COIN), with shares up $8.87, or 2.35%, near $386.35. Options volume relatively light with 107k contracts traded and calls leading puts for a put/call ratio of 0.35, compared to a typical level near 0.56. Implied volatility (IV30) is higher by 0.4 points near 62.09,in the bottom quartile of the past year, suggesting an expected daily move of $15.11. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Neutral at Monness Crespi.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 6.42% or $24.80.

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