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COIN

Coinbase Global, Inc.Close $150.11EOD only
Max Pain
$167.50
Next expiry Jun 26, 2026
Expected Move
±$7.42
5.0% from close
Price Gap
+17.39
Distance to max pain
IV Rank
9
Low premium
P/C OI
0.86
Slightly call-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 24, 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 24, 2026 close
COIN Earnings Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

COIN 35 days from earnings, high IV, bearish flow. Historical beat rate 40%.

Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 14.9% from MP; +0.5 VIX 19
Most important: Put/call volume ratio 1.54 and concentrated put flow at 142-146 indicate bearish positioning.
⚠️Put/call volume ratio 1.54 is highest in 6 months, signaling bearish sentiment.
📈15-day implied move of 10.9% reflects high uncertainty and crypto volatility.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Bearish
Spot vs MP
Below
Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,507 (12.3% below spot)

Earnings Overview

Next earnings: 2026-07-30 (35 days)explicit

Expected moves:

  • 2026-06-26 (1d): ±$4.80 (3.4%)
  • 2026-07-02 (7d): ±$11.33 (7.9%)
  • 2026-07-10 (15d): ±$15.55 (10.9%)

IV Setup

Term structure: Near-term elevated (IV ~55-60%), backwardation across 1d/7d/15d; 15d implied move 10.9%.

Crush estimate: Low near-term crush; post-earnings moderate ~5-10% IV decline.

Skew: Put skew steep at 142-146 strikes, 10-15% higher IV than calls.

Historical Context

Beat rate: 40% (2/5 quarters)

Avg move vs expected: Average move 6.5% vs 5% implied (inferred from 40% beat rate).

Directional bias: Bearish bias; low beat rate and persistent put flow.

Key Levels

1$125.00 gamma flip
2EM guardrails: 2d $137.72/$147.32; 1w $131.20/$153.85
3Max pain pins: $168 (2026-06-26); $155 (2026-07-02); $155 (2026-07-10)

Flow Highlights

Large put buying on 6/26 142 strike (4,491 vol, 386 OI, ratio 11.6).

Aggressive bearish bet or near-term downside hedge.

Call accumulation at 150, 155 strikes for 6/26 expiry (3,215 vol on 155 call).

Speculative upside bets or gamma hedging against short puts.

Strategies

Bear Put Spread
Buy 2026-08-21 $145.00/$140.00 put spread
Debit: $2.50-$3.05
Max loss: $3.05
Max gain: $1.95
BE: $141.95
Trigger: Exit at 50% max gain or on invalidation at $155.
High put volume and low beat rate support bearish; spread limits cost and risk.
Outperforms: Bearish edge from persistent put flow and low historical beat rate.
Underperforms: Trade above resistance weakens downside thesis.
Long Put
Buy 2026-08-21 $145.00 put
Debit: $15.73-$19.22
Max loss: $19.22
Max gain: $125.78
BE: $125.78
Trigger: Set stop loss at $155; consider taking profits at 50% move.
Higher potential reward but larger loss risk; suits aggressive bears.
Outperforms: Direct bearish bet on downside move from put flow bias.
Underperforms: Break above resistance weakens downside thesis.

Risk Assessment

!Crypto volatility (BTC correlation)
!Regulatory headlines impacting Coinbase
!Low historical beat rate (40%)
!Gamma flip risk at $125
!IV decline from elevated levels if no catalyst

What to Watch

?BTC price action near support/resistance
?Unusual put flow continuation at 142-146 strikes
?Open interest changes in 155 call wall
?Broader market tech selloff (QQQ correlation)
How to Use These Reports
This earnings reflects the market close on June 25, 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.