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COIN

Coinbase Global, Inc.Close $159.78EOD only
Max Pain
$167.50
Next expiry Jun 18, 2026
Expected Move
±$11.12
7.0% from close
Price Gap
+7.72
Distance to max pain
IV Rank
40
Middle-high premium
P/C OI
0.74
Slightly call-heavy
Consensus
6.0/10
Range bias
Published snapshot: Jun 12, 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 12, 2026 close
COIN Earnings Report
Analysis based on market close June 11, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 11, 2026. A newer earnings report is available for June 12, 2026.

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Earnings Verdict

COIN far from earnings; high vol, pinning gamma, mixed flow. Unusual deep OTM puts suggest speculative bearish bets.

Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.3% from MP; +0.5 VIX 19
Most important: Large put buying at $290-340 strikes for 6/18 expiry signals tail risk hedging; call flow near ATM supports $162.50 level.
🟡Mixed flow: call buying at $162.50 vs put buying at $290. Indecision near term.
🔴Bearish skew: puts at $340 have IV 258%, signaling extreme tail risk premium.

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 15,515 (22.1% below spot)

Earnings Overview

Next earnings: 2026-07-30 (49 days)explicit

Expected moves:

  • 2026-06-12 (1d): ±$5.61 (3.5%)
  • 2026-06-18 (7d): ±$13.10 (8.2%)
  • 2026-06-26 (15d): ±$18.17 (11.3%)

IV Setup

Term structure: Upward sloping: 1d IV ~60%, 7d ~70%, 15d ~80%+ based on expected moves and put IVs.

Crush estimate: Minimal before earnings (49 days out); post-earnings crush ~10-15% if event is typical.

Skew: Bearish skew: puts at high strikes (IV 168-258%) much richer than calls near ATM (IV 60-71%).

Historical Context

Beat rate: 40% (2/5 quarters)

Avg move vs expected: Historical moves have been larger than implied in 3 of last 5 events.

Directional bias: Neutral; 40% beat rate, mixed recent reactions.

Key Levels

1$125.00 gamma flip
2EM guardrails: 2d $154.82/$166.04; 1w $147.33/$173.53
3Max pain pins: $160 (2026-06-12); $172 (2026-06-18); $170 (2026-06-26)

Flow Highlights

Unusual put volume at $290, $340, $270, $300 strikes for 6/18 expiry with vol/oi >5x.

Speculative bearish positioning or tail hedging; unlikely to be directional conviction given strikes far OTM.

Strategies

Tail Risk Capture
Buy 2026-08-21 $150.00 put + buy $185.00 call
Debit: $25.04-$30.61
Max loss: $30.61
Max gain: Unlimited
BE: 119.39 / 215.61
Trigger: Adjust wings if IV spikes; exit before earnings or on 2x move.
Deep OTM puts + high IV favor strangle over straddle (lower cost) and iron condors (range-bound but fails if tail hits).
Outperforms: Buys OTM put/call to profit from outsized move; aligns with large put buying and historical beats.
Underperforms: Insufficient realized move reduces long-strangle edge.
Neutral Range Play
Sell 2026-07-17 $135.00/$130.00 put wing and $200.00/$210.00 call wing
Credit: $1.94-$2.38
Max loss: $7.62
Max gain: $2.38
BE: 132.62 / 202.38
Trigger: Manage near $160; close at 50% profit.
Gamma pin near $160 and high IV make iron condor attractive for theta decay; outranks ss_preearn due to tighter wings and higher credit.
Outperforms: Sells OTM put/call wings to collect premium; caps tail risk.
Underperforms: Move outside short strikes invalidates range thesis.
Volatility Loophole
Buy 2026-08-21 $160.00 put + buy $160.00 call
Debit: $37.94-$46.37
Max loss: $46.37
Max gain: Unlimited
BE: 113.63 / 206.37
Trigger: Hold through earnings; exit post-move.
Historical moves exceed implied; straddle captures full move but costs more than strangle; ranks below strangle due to cost and no tail skew.
Outperforms: Buys ATM put/call to profit from large earnings move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Iron condor
Sell 2026-07-17 $130.00/$125.00 put wing and $210.00/$220.00 call wing
Credit: $1.31-$1.60
Max loss: $8.40
Max gain: $1.60
BE: 128.40 / 211.60
Neutral bias and high IV support short premium; wings cap tail risk pre-earnings.
Outperforms: Sell premium in high vol with defined risk; theta decay with tight wings.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Gamma pin at $160 (6/12) and $172 (6/18) could cap moves near term.
!Large put OI at low strikes ($90-$125) provides underlying support.
!Dealer gamma flip at ~$125 could amplify downside if breached.

What to Watch

?Price action around $160 (max pain 6/12) and $170 (call wall).
?Volume on deep OTM puts; if rolls, sentiment shifts.
?BTC correlation as COIN often tracks crypto.
How to Use These Reports
This earnings reflects the market close on June 11, 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.