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COIN

Coinbase Global, Inc.Close $164.84EOD only

Max Pain

$167.50

Next expiry Jun 26, 2026

Expected Move

±$10.75

6.5% from close

Price Gap

+2.66

Distance to max pain

IV Rank

Low premium

P/C OI

0.91

Balanced positioning

Consensus

6.0/10

Bullish tilt

Published snapshot: Jun 22, 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 22, 2026 close

COIN Flow Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 5.6% from MP; +0.5 VIX 19

Watch next session: COIN $165-$175 call zone; Gamma flip at $125

Flow Summary

Net premium: -$26.9M bearish

P/C volume ratio: 0.55

P/C OI ratio: 0.88

Despite heavy call buying at 165-172.5 for July 2, negative net premium and negative gamma indicate bearish positioning. Market down 3.3% in QQQ, VIX elevated. Put OI concentrated below spot. Bearish bias favored unless spot recovers above gamma flip.

Notable Prints

COIN 2026-07-02 $165.00 Call

Vol: 4,318

OI: 234

Vol/OI: 18.4x

IV: 66.5%

Notional: ~$1.8M

Intent: Bullish speculation near money

Read-through: Bullish sentiment into July

COIN 2026-07-02 $172.50 Call

Vol: 3,709

OI: 439

Vol/OI: 8.4x

IV: 66.7%

Notional: ~$790K

Intent: Aggressive bullish bet

Read-through: Strong bullish conviction

COIN 2026-07-02 $170.00 Call

Vol: 2,289

OI: 409

Vol/OI: 5.6x

IV: 66.6%

Notional: ~$636K

Intent: Bullish directional

Read-through: Continued bullish trend

COIN 2026-12-18 $5.00 Put

Vol: 3,040

OI: 836

Vol/OI: 3.6x

IV: 239.8%

Notional: ~$33K

Intent: Tail risk hedge or lottery

Read-through: Downside fear priced

COIN 2026-10-16 $240.00 Call

Vol: 717

OI: 226

Vol/OI: 3.2x

IV: 71.2%

Notional: ~$479K

Intent: Long-term bullish bet

Read-through: Optimistic on Oct

Institutional Positioning

Call additions: Heavy call buying in weekly $165-$172.5, Oct $200/$240, deep ITM $75

Put additions: Far OTM $5 put addition, small $157.5 put

GEX/DEX consistency: Negative GEX (-$5.5M) vs positive DEX (+24.5M) indicates dealer short gamma hedging

OI clusters: Put OI ~15.5k at 21% below spot, call OI at $165-$172.5

Hedging evidence: Far OTM puts suggest tail hedge; call dominance shows upside bias

Max pain context: Spot below MP; likely pin higher due to call walls

Signal vs Noise

~Signal: Large weekly call volume at $165-$172.5 indicates bullish short-term positioning

~Noise: Far OTM put volume mostly tail hedging, not directional

Key Conclusions

📈Call volume surge in weekly strikes signals institutional bullish tilt

🛡️Tail hedges present via far OTM puts, but not dominant

⚡Negative gamma and spot below MP suggest volatility may rise

How to Use These Reports

This flow reflects the market close on June 23, 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.