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COIN

Coinbase Global, Inc.Close $162.11EOD only

Max Pain

$162.50

Next expiry Jun 12, 2026

Expected Move

±$10.93

6.7% from close

Price Gap

+0.39

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.78

Slightly call-heavy

Consensus

6.0/10

Bearish tilt

Published snapshot: Jun 8, 2026 close

End-of-day snapshot

This page reflects COIN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 8, 2026 close

COIN Directional Report

Analysis based on market close June 8, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

Neutral-bearish bias with pinning to max pain $162, but resistance at $170 and gamma flip risk at $125 support bearish tilt. Near-term event-driven until 6/12 expiry.

Confidence:

6.5 / 10

Base 6.5: -1 from mixed flow, +1 from positive GEX pinning, +1 spot near MP, +0.5 VIX 19.

Supports: Positive GEX, spot near max pain, low VIX.
Conflicts: Mixed flow, resistance from put OI at $125 gamma flip.

🔒Max pain $162 pin for 6/12 expiry

⚠️Gamma flip at $125 from put concentration

🟢GEX positive $8.9M supports floor

🔴Resistance $170 and $190 expiry caps upside

Regime Classification

Vol Regime

High

IV elevated above typical range, consistent with crypto high vol.

Gamma Regime

Pinning

GEX positive at +$8.9M, pinning likely near $162 max pain.

Flow Regime

Mixed

Mixed flow net premium unclear; put OI concentrated at $125 indicates downside hedging.

Spot vs Max Pain

Spot near max pain $162 (0.2% away), pin expected.

Thesis duration: Event-specific — With max pain and gamma pinning, for next few days until expiry.

Price Range Forecast

Next 1 week

$146.29$177.94

Max pain $162 pin; resistance $170.

Next 2 weeks

$141.91$182.31

Support $141.9, gamma flip ~$125 risk.

Key Levels

Max pain pins: $162 (2026-06-12); $190 (2026-06-18); $170 (2026-06-26)

EM guardrails: 1w $146.29/$177.94

Support: $141.91

Resistance: $162.50 · $167.50 · $170.00

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,509 (22.9% below spot)

Structural: Max pain: $162 (6/12), $190 (6/18), $170 (6/26). EM guardrails: 1w $146.29/$177.94. Key support $141.91, resistance $162.5, $167.5, $170. Gamma flip ~$125.

Dealer Positioning (GEX/DEX)

GEX: $+8.9M

DEX: +28.9M shares

Gamma flip: ~$125 (Approx — based on put OI concentration of 15,509 (22.9% below spot))

NTM gamma: NTM GEX +$8.9M, DEX +28.9M shares. Gamma flip at ~$125 from put OI concentration.

IV Analysis

IV vs VIX: COIN IV elevated vs VIX (~19), reflecting crypto vol premium.

Term structure: Likely contango with event kinks around weekly expiries.

Skew: Skew steep; consider selling wings for theta decay near max pain.

Flow Analysis

Net premium: Net premium -$53.8M negative; low P/C vol 0.46 indicates net call selling.

Directional prints: 79.1 call 160 ITM 2026-08-21 — Vol/OI 22x; massive. Net selling suggests sold calls by institutions. 72.8 call 162.5 OTM 2026-06-12 — Vol/OI 7.4x; sold calls at OTM, bearish positioning.

Unusual: 85.6 call 240 OTM 2026-06-26 — Vol/OI 6.5x OTM call; sold for premium collection. 282.2 put 45 OTM 2026-06-26 — Vol/OI 2.6x deep OTM put, high IV; likely sold, bullish tail. 142.2 call 265 OTM 2026-06-12 — Vol/OI 2.8x very OTM call; sold, speculative.

Risks & Catalysts

!Break below $125 gamma flip could accelerate selloff.

!Resistance at $170 fails to hold.

!Unexpected crypto vol spike from macro.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bear put spread	Moderate-Weak	Buy 2026-06-18 $160.00/$157.50 put spread Why now: Thesis shows bearish tilt next 2 weeks, net premium negative with call selling flow, and large call sale at 160 on 8/21 confirms bearish sentiment.	Upside risk if price rallies above $165; time decay if move is slow; gamma flip below $125 could accelerate but is less probable near-term. Liquidity constraints: short_put: Open interest below 25.
Bear put spread	Moderate-Weak	Buy 2026-06-26 $152.50/$144.00 put spread Why now: High net call selling and max pain pin align with bearish bias; defined risk to profit from decline.	Upside risk if price rallies above short put. Liquidity constraints: long_put: Open interest below 25.; short_put: Open interest below 25.
Call credit spread	Moderate-Weak	Sell 2026-06-26 $177.50/$195.00 call spread Why now: Institutional call selling and negative premium flow suggest limited upside; premium harvest.	Sharp breakout above short strike causes loss. Liquidity constraints: short_call: Open interest below 25.
Bear put spread	Moderate-Strong	Buy 2026-08-21 $150.00/$140.00 put spread Why now: Next earnings on 2026-07-30; follow-through expected; use back-month expiration to capture extended move.	Time decay if move doesn't materialize; post-earnings vol crush.

Top Plays

Pre-earnings Bear Put

Buy 2026-08-21 $150.00/$140.00 put spread

Buys 150/140 put spread to profit from decline into earnings.

Why this play: Aligns with net call selling and large 160 call sale; expiration covers earnings. Only candidate with liquidity pass.

Debit: $3.85-$4.70

Max loss: $4.70

BE: $145.30

Mgmt: Exit if above 162.5 invalidation; target 140.

Traders expecting moderate downside with defined risk.

Short-term Bear Put

Buy 2026-06-26 $152.50/$144.00 put spread

Buys 152.5/144 put spread for next 2 weeks.

Why this play: Captures near-term bearish tilt and negative flow; better risk/reward than other near-dated spread.

Debit: $2.20-$2.69

Max loss: $2.69

BE: $149.81

Mgmt: Invalidate above 162.5; take profit at 50% gain. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.; short_put: Open interest below 25.

Traders seeking high reward-to-risk ratio on weekly move.

Call Credit Spread

Sell 2026-06-26 $177.50/$195.00 call spread

Sells 177.5/195 call credit spread to collect premium.

Why this play: Directly benefits from institutional call selling and limited upside.

Credit: $2.39-$2.92

Max loss: $14.58

BE: $180.42

Mgmt: Close if COIN breaks 162.5; widen strikes if needed. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Premium sellers with neutral-bearish outlook.

Watchlist Triggers

Entry Triggers

IFIF COIN closes below $160, enter bear_put_2: Buy 2026-08-21 $150/$140 put spread → Buy 2026-08-21 $150/$140 put spread

IFIF COIN holds below $162.5 for 2 days, enter bear_put_1: Buy 2026-06-26 $152.50/$144.00 put spread → Buy 2026-06-26 $152.50/$144.00 put spread

Exit Triggers

EXITIF COIN rallies above $162.5, exit all bearish positions → Exit bear put spreads and call credit spread

Tactical Summary

Neutral-bearish bias until 6/12 expiry. Max pain $162. Key resistance $162.5, $170. Support $141.91. Gamma flip at $125. Priority: bear put spread (150/140) for earnings coverage. Invalidate above $162.5. Short-term bear put and call credit spreads secondary.

How to Use These Reports

This directional reflects the market close on June 8, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.