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COIN

Coinbase Global, Inc.Close $175.26EOD only
Max Pain
$175.00
Next expiry Sep 18, 2026
Expected Move
±$12.10
6.9% from close
Price Gap
-0.26
Distance to max pain
IV Rank
29
Middle-high premium
P/C OI
0.70
Slightly call-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Sep 11, 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 11, 2026 close
COIN Theta Report
Analysis based on market close June 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 15, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Observe
Invalidation: Spot breaks below $167.5 support or above $170 resistance
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.3% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
Avg IV 88.6% vs VIX 16.2, extremely rich.
Favorable?
No

Term structure: Front-end elevated at 68.2% due to event risk, then flattens 65-66% in weeks, rises to 71-75% longer-term.

💰IV elevated >5x VIX, rich premium across term structure.
⚠️Max pain pins $168-$165 may trap short options.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+22.6M)

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,515 (26.3% below spot)

OI concentrations: Put OI heavy at $125-$165; call OI wall at $190-$250.

Verdict: Max pain zones act as attractors, increasing pin risk for short options near $168-$165.

Premium Opportunities

#1
Call calendar
Sell 2026-07-17 $170.00 call / buy 2026-08-21 $170.00 call
Sell front-month call, buy back-month call at same strike to profit from IV skew.
Debit: $6.89-$8.42
Max loss: $8.42
BE: Path-dependent
Mgmt: Exit if spot breaks $167.5 support; monitor IV dynamics.

Risk Alerts

!High volatility regime increases gamma risk
!Positive GEX may reduce realized vol but pinning risk elevated
!Mixed flow suggests caution on directional bias
How to Use These Reports
This theta reflects the market close on June 15, 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.