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COIN

Coinbase Global, Inc.Close $184.64EOD only

Max Pain

$180.00

Next expiry Sep 11, 2026

Expected Move

±$12.20

6.6% from close

Price Gap

-4.64

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.69

Slightly call-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Sep 4, 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

Sep 4, 2026 close

COIN Theta Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 9, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.3% from MP; +0.5 VIX 20

IV Environment

IV Regime

High

IV vs VIX

Avg IV 87.75% vs VIX 19.87, IV significantly elevated

Favorable?

Yes

Term structure: Term structure flat with slight dip at mid-term (70.85% on 6/26), then rising again. Indicates uncertainty around near-term events.

⚡High IV offers premium, but dealer short gamma ($-3.4M) risks volatility expansion.

📊Put floor at $90-125 provides support; call wall at $168-200 caps upside.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-3.4M)

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,515 (19.6% below spot)

OI concentrations: Call OI wall $168-200, Put floor $90-125. Max pain at $162 (6/12) and $170 (6/26).

Verdict: Spot ($152.85) below nearest max pain ($162), increasing pin risk for 6/12 expiry.

Premium Opportunities

Iron condor

Sell 2026-07-17 $150.00/$145.00 put wing and $170.00/$180.00 call wing

Sell put wing at $150 and call wing at $170, net credit $4.28-$5.23.

Credit: $4.28-$5.23

Max loss: $4.77

BE: 144.77 / 175.23

Mgmt: Close if spot breaks $136 support or $168 resistance; manage around earnings.

Put credit spread

Sell 2026-07-17 $150.00/$145.00 put spread

Sell $150/$145 put spread for credit $1.82-$2.23.

Credit: $1.82-$2.23

Max loss: $2.77

BE: $147.77

Mgmt: Exit if spot drops below $136 invalidation level.

Risk Alerts

!Pin risk elevated for 6/12 expiry near $162

!Dealer short gamma may exacerbate moves if spot breaks below $146.18 (2d EM) or above $164.82

How to Use These Reports

This theta reflects the market close on June 9, 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.