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COIN

Coinbase Global, Inc.Close $163.26EOD only

Max Pain

$175.00

Next expiry Jun 26, 2026

Expected Move

±$12.45

7.6% from close

Price Gap

+11.74

Distance to max pain

IV Rank

100

High premium

P/C OI

0.73

Slightly call-heavy

Consensus

5.5/10

Consensus signal

Published snapshot: Jun 18, 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 18, 2026 close

COIN Directional Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

COIN has moderated bullish bias within $150-$180 range; positive GEX pin near $165 and spot below MP support upside, but high vol and mixed flow cap; thesis event-specific.

Confidence:

6.5 / 10

Base 5, +1 VIX drop, +0.5 spot proximity to MP, offsetting GEX/flow adjustments.

Supports: Positive GEX pinning at $165; spot below MP; moderate VIX.
Conflicts: High vol; mixed options flow; resistance at $165-$175.

📌Pin at $165

⚠️High vol

📈Spot near MP

Regime Classification

Vol Regime

High

IV elevated, reflecting event uncertainty around COIN expiry cycles.

Gamma Regime

Pinning

Gamma positive with strong pin at $165; flip risk below $125 based on put OI concentration.

Flow Regime

Mixed

Mixed premium flow; put/call activity suggests no strong directional bet.

Spot vs Max Pain

Below

Spot 1.1% below max pain $165, indicating slight dealer hedging upward.

Thesis duration: Event-specific — Multiple event-specific pins (Jun18, Jun26, Jul2) dominate near-term gamma.

Price Range Forecast

Next 1 week

$150.81$175.71

GEX pin supports upward drift within $150-$175.

Next 2 weeks

$146.41$180.11

Range widens; uncertainty higher as expiries roll.

Key Levels

Max pain pins: $165 (2026-06-18); $175 (2026-06-26); $165 (2026-07-02)

EM guardrails: 1w $150.81/$175.71

Support: $146.41

Resistance: $165.00 · $170.00 · $175.00

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,515 (23.4% below spot)

Structural: Support $146, resistance $175 structural; gamma flip risk at $125.

Dealer Positioning (GEX/DEX)

GEX: $+15.6M

DEX: +27.3M shares

Gamma flip: ~$125 (Approx — based on put OI concentration of 15,515 (23.4% below spot))

NTM gamma: $+15.6M GEX, +27.3M DEX; gamma pin $165; flip $125.

IV Analysis

IV vs VIX: Ticker IV rich vs VIX, indicating event premium embedded.

Term structure: Short-dated vol likely elevated due to pin; longer-dated lower.

Skew: Put skew elevated; consider vol crush post-pin.

Flow Analysis

Net premium: Net short premium $171M (bearish); P/C vol 0.94, OI 0.73.

Directional prints: 62.1 call 172.5 OTM 2026-06-26 — 16.7x vol/OI, new long calls; bullish upside bet. 62.5 call 167.5 OTM 2026-06-26 — 13.9x vol/OI, similar call buying; bullish. 10.5 put 162.5 OTM 2026-06-18 — 9.4x vol/OI; closing (bullish) vs opening (bearish); likely closing.

Unusual: 106.1 put 115 OTM 2026-06-26 — 8.4x vol/OI, deep OTM put, high IV; speculative bearish hedge. 368.2 put 230 ITM 2026-06-18 — 6.5x vol/OI, ITM put, extreme IV; likely closing/rolling. 500 put 270 ITM 2026-06-18 — 5.9x vol/OI, deep ITM put, high IV; forced activity.

Risks & Catalysts

!Gamma flip below $125 could trigger selling.

!High vol may expand with market moves.

!Mixed flow reduces directional confidence.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-17 $170.00/$195.00 call spread Why now: Range-bound uptrend with GEX support; use defined-risk debit.	Time decay if no move.
Put credit spread	Moderate-Strong	Sell 2026-07-17 $145.00/$135.00 put spread Why now: High IV and bullish flow; defined risk.	Break below $150.
Call diagonal	Moderate	Sell 2026-07-02 $187.50 call / buy 2026-08-21 $200.00 call Why now: High vol premium near-term; longer-dated cheap.	Upside spike hurts short call.

Top Plays

Bull Call Spread

Buy 2026-07-17 $170.00/$195.00 call spread

Buy call spread to profit from upside within range.

Why this play: Best aligned with bullish bias and GEX support; defined risk.

Debit: $5.62-$6.88

Max loss: $6.88

BE: $176.88

Mgmt: Exit at target or if COIN breaks below $146.

Directional bulls seeking defined risk.

Put Credit Spread

Sell 2026-07-17 $145.00/$135.00 put spread

Sell put spread to collect premium, expecting price above $145.

Why this play: High IV supports premium collection; bullish tilt.

Credit: $1.83-$2.23

Max loss: $7.77

BE: $142.77

Mgmt: Manage if spot nears short strike; roll or close.

Income-focused traders with bullish outlook.

Call Diagonal

Sell 2026-07-02 $187.50 call / buy 2026-08-21 $200.00 call

Sell near-term call, buy later-dated call for theta decay.

Why this play: Captures short-term premium with longer upside exposure.

Debit: $5.84-$7.14

Max loss: $7.14

BE: Path-dependent

Mgmt: Roll short leg if tested; let long run.

Traders expecting slow grind higher with time.

Watchlist Triggers

Entry Triggers

IFIF COIN holds above $146.41 and breaks above $165 with volume → THEN enter Bull Call Spread (buy 170/195 call spread) as top play.

IFIF COIN stays between $146.41 and $165 and IV remains elevated → THEN enter Put Credit Spread (sell 145/135 put spread) for premium income.

IFIF COIN grinds higher in $150-$165 range with declining IV → THEN enter Call Diagonal (sell 187.5c/buy 200c) for theta decay.

Exit Triggers

EXITIF COIN breaks below $146.41 support → THEN exit all bullish trades to limit loss.

Tactical Summary

COIN moderate bullish bias in $150-$180 range. Key support $146.41, resistance $175; gamma flip at $125. Top play: Bull Call Spread (170/195) on breakout above $165. Alternative: Put Credit Spread (145/135) for income. Risk: break below $146.41 invalidates thesis.

How to Use These Reports

This directional reflects the market close on June 18, 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.