Option traders moderately bearish in Coinbase (COIN), with shares down $17.39 near $300.77. Options volume roughly in line with average with 311k contracts traded and calls leading puts for a put/call ratio of 0.89, compared to a typical level near 0.57. Implied volatility (IV30) is higher by 2.0 points near 57.41,in the lowest 10% of observations over the past year, suggesting an expected daily move of $10.88. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Sell at Compass Point.
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