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COIN

Coinbase Global, Inc.Close $169.62EOD only
Max Pain
$167.50
Next expiry Jun 18, 2026
Expected Move
±$9.67
5.7% from close
Price Gap
-2.12
Distance to max pain
IV Rank
53
Middle-high premium
P/C OI
0.76
Slightly call-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Jun 15, 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 15, 2026 close
COIN Earnings Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

44d to earnings, high IV (~65%), gamma pinning at $168, 40% beat rate, mixed flow with put-heavy unusual prints.

Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.1% from MP; +1 VIX 16
Most important: Gamma pinning at $168 and large $175 put OI; low beat rate suggests caution.
⚠️High put OI at $175 (15.5k contracts) is key downside target if $168 breaks.
📊Call OI wall $190-$250 caps upside; above $188 resistance opens run to $215.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,515 (26.2% below spot)

Earnings Overview

Next earnings: 2026-07-30 (44 days)explicit

Expected moves:

  • 2026-06-18 (2d): ±$8.20 (4.8%)
  • 2026-06-26 (10d): ±$15.10 (8.9%)
  • 2026-07-02 (16d): ±$18.78 (11.1%)

IV Setup

Term structure: Upward sloping; 2d IV ~65%, longer-dated elevated due to event uncertainty.

Crush estimate: Expected post-earnings crush 30-50% on 7/30.

Skew: Put skew elevated; notable put volume at 175P.

Historical Context

Beat rate: 40% (2/5 quarters)

Avg move vs expected: Implied moves (4-11%) high vs historical average; low beat rate (40%) hints at overpricing.

Directional bias: No persistent bias; mixed results.

Key Levels

1$125.00 gamma flip
2EM guardrails: 2d $161.07/$177.47; 1w $154.17/$184.37
3Max pain pins: $168 (2026-06-18); $168 (2026-06-26); $165 (2026-07-02)

Flow Highlights

Aggressive put buying on 6/26 $175P (vol 4,799, OI 471) and call buying on $185C (vol 3,881).

Mixed hedging and speculation; uncertainty ahead of earnings.

Strategies

Bear Put Spread
Buy 2026-08-21 $165.00/$160.00 put spread
Debit: $2.11-$2.58
Max loss: $2.58
Max gain: $2.42
BE: $162.42
Trigger: Profit target 50%; stop loss at invalidation $170. Liquidity warning: Liquidity constraints: long_put: Volume below 5.
Targets downside with defined risk, aligns with put-heavy flow and low beat rate.
Outperforms: Expresses bearish view on COIN earnings with limited risk.
Underperforms: Trade above resistance weakens downside thesis.
Long Strangle
Buy 2026-08-21 $165.00 put + buy $170.00 call
Debit: $34.16-$41.75
Max loss: $41.75
Max gain: Unlimited
BE: 123.25 / 211.75
Trigger: Close before earnings or adjust if IV crushes. Liquidity warning: Liquidity constraints: long_put: Volume below 5.
Cheaper than straddle, benefits from large move but faces crushing risk.
Outperforms: Captures volatility without pinning risk at $168.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Gamma flip at $125 could amplify downside.
!Low historical beat rate (40%).
!Crypto correlation adds external risk.
!Negative net premium (-$68.5M).

What to Watch

?BTC price action and crypto sentiment.
?Gamma pinning at $168 support.
?Put wall at $175 expiration.
?Pre-earnings news or guidance whispers.
How to Use These Reports
This earnings reflects the market close on June 16, 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.