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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
25
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 Earnings Report
Analysis based on market close June 8, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Earnings 52 days out, IV inflated, call skew elevated, GEX pinning near $162.

Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.2% from MP; +0.5 VIX 19
Most important: Long-dated call activity suggests upside bets; Gamma flip at $125.
🟢Aug 160C call buying (22x vol/OI) indicates directional bullish bet.
🟡GEX pinning near $162; spot 0.2% from MP, limiting volatility.
🔴Net premium -$53.8M; negative flow contradicts call optimism.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
At
Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,509 (22.9% below spot)

Earnings Overview

Next earnings: 2026-07-30 (52 days)explicit

Expected moves:

  • 2026-06-12 (4d): ±$10.92 (6.7%)
  • 2026-06-18 (10d): ±$15.83 (9.8%)
  • 2026-06-26 (18d): ±$20.20 (12.5%)

IV Setup

Term structure: Contango; 4d 6.7%, 10d 9.8%, 18d 12.5% expected moves.

Crush estimate: Moderate post-earnings crush, but 52 days out.

Skew: Call skew elevated; put skew suppressed; OI wall $175-$200 calls.

Historical Context

Beat rate: 40% (2/5 quarters)

Avg move vs expected: 40% beat rate; moves inconsistent vs implied.

Directional bias: Neutral; no clear bias from history.

Key Levels

1$125.00 gamma flip
2EM guardrails: 1w $146.29/$177.94
3Max pain pins: $162 (2026-06-12); $190 (2026-06-18); $170 (2026-06-26)

Flow Highlights

Heavy call buying on June 12 162.5C and 180C, and Aug 160C (22x vol/OI).

Bullish positioning near MP; long-dated bets suggest upside confidence.

Unusual put activity on June 26 45P (2.6x vol/OI).

Tail hedge or speculative wager; negligible impact.

Strategies

Defined-Risk Neutral Play
Sell 2026-06-26 $150.00/$145.00 put wing and $170.00/$180.00 call wing
Credit: $3.80-$4.65
Max loss: $5.35
Max gain: $4.65
BE: 145.35 / 174.65
Trigger: Close at 50% max profit or before earnings; adjust if spot approaches wings.
Best fit for neutral bias, elevated IV, and contango; wings clear of gamma pinning.
Outperforms: Sells put and call wings outside $162 pin to capture premium decay and IV contraction.
Underperforms: Move outside short strikes invalidates range thesis.
High Premium Short Vol
Sell 2026-06-26 $155.00 put + sell $175.00 call
Credit: $10.85-$13.26
Max loss: Unlimited
Max gain: $13.26
BE: 141.74 / 188.26
Trigger: Monitor spot near strikes; roll or hedge if IV spikes.
Higher credit than iron condor but unlimited tail risk; benefits from same vol dynamics.
Outperforms: Short put and call at tighter strikes to maximize theta and vega decay.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Long strangle
Buy 2026-08-21 $150.00 put + buy $180.00 call
Debit: $28.17-$34.43
Max loss: $34.43
Max gain: Unlimited
BE: 115.57 / 214.43
High IV, neutral bias, long-dated call activity, GEX pinning near $162; wide strangle reduces cost.
Outperforms: Buy cheap volatility with wide strikes to capture post-earnings move.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!High IV (VIX 19) amplifies premium decay.
!Negative net premium flow (-$53.8M) suggests selling pressure.
!Gamma pinning at $162 may cap short-term moves.
!Earnings 52 days away adds uncertainty.
!Gamma flip at $125 could accelerate moves.

What to Watch

?Spot relative to $162 max pain.
?Continued call accumulation on Aug 160C.
?June 12 expiration: large OI at 162.5C and 180C.
?VIX movement impacting option premiums.
?$125 gamma flip level.
How to Use These Reports
This earnings 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.