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COIN

Coinbase Global, Inc.Close $155.50EOD only
Max Pain
$162.50
Next expiry Jun 12, 2026
Expected Move
±$9.32
6.0% from close
Price Gap
+7.00
Distance to max pain
IV Rank
30
Middle-high premium
P/C OI
0.76
Slightly call-heavy
Consensus
7.0/10
Bearish tilt
Published snapshot: Jun 9, 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 9, 2026 close
COIN Theta Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short put spreads
Invalidation: Spot breaks below $125 or above $168
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 3.8% from MP

IV Environment

IV Regime
High
IV vs VIX
IV (91.3%) >> VIX (22.2%), rich premiums
Favorable?
Yes

Term structure: Near-term ATM IV ~68.5%; 8d call IV spikes to 180.8% (event risk). Back-month IV ~75%. Skew elevated.

📈8d call IV 180% suggests event risk; gamma negative exacerbates

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-9.4M)

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,515 (18.8% below spot)

OI concentrations: Call wall $168-$190; Put floor $90-$125; Max pain pins: $160 (2d), $185 (8d), $170 (16d)

Verdict: Spot below max pain; put floor & call wall define range. Pin risk moderate near max pain strikes.

Premium Opportunities

#1
Iron condor
Sell 2026-07-02 $140.00/$130.00 put wing and $175.00/$190.00 call wing
Sells wings at defined range ($130-$175) to profit from spot staying within max pain boundaries.
Credit: $4.42-$5.40
Max loss: $9.60
BE: 134.60 / 180.40
Mgmt: Close if spot breaches $130 or $175; roll wings to adjust delta.
#2
Put diagonal
Sell 2026-07-02 $145.00 put / buy 2026-08-21 $165.00 put
Sells short-term put against long-term put to net credit with defined risk.
Debit: $17.35-$21.20
Max loss: $21.20
BE: Path-dependent
Mgmt: Exit if spot drops near $145 or if IV collapses; consider rolling short put.
#3
Call diagonal
Sell 2026-07-02 $175.00 call / buy 2026-08-21 $165.00 call
Sells front-month call to collect premium, buys back-month call for leverage.
Debit: $11.54-$14.11
Max loss: $14.11
BE: Path-dependent
Mgmt: Close if spot breaches $175 or if volatility drops sharply.

Risk Alerts

!Dealer gamma negative ($9.4M) amplifies moves
!Net premium -$81M, bearish flow
!Spot 3.8% from max pain, may drift toward it
How to Use These Reports
This theta reflects the market close on June 10, 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.