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COIN

Coinbase Global, Inc.Close $163.26EOD only
Max Pain
$175.00
Next expiry Jun 26, 2026
Expected Move
±$12.45
7.6% from close
Price Gap
+11.74
Distance to max pain
IV Rank
100
High premium
P/C OI
0.73
Slightly call-heavy
Consensus
5.5/10
Consensus signal
Published snapshot: Jun 18, 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 18, 2026 close
COIN Theta Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6.5 / 10
Sizing: Moderate
Primary: Iron condor
Invalidation: Spot breaks below $125 or above $175
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.1% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
Avg IV 96% vs VIX 16, rich premiums.
Favorable?
Yes

Term structure: Steep contango: front-month IV 22% low, back-month 70%+.

📈Avg IV 96% vs VIX 16, rich premiums for sellers.
📍GEX +$15.6M positive, pinning near $165 Max Pain.
📊Term structure steep contango, near-term IV low vs back-month.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+15.6M)

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,515 (23.4% below spot)

OI concentrations: Put OI 23% below spot at $125; Call OI wall $175-$240.

Verdict: Moderate: spot below max pain $165, GEX positive, gamma flip at $125.

Premium Opportunities

#1
Iron condor
Sell 2026-07-24 $150.00/$145.00 put wing and $185.00/$190.00 call wing
Sell put and call wings at support/resistance to collect premium from elevated IV.
Credit: $2.43-$2.97
Max loss: $2.03
BE: 147.03 / 187.97
Mgmt: Close at 50% profit or if spot nears short strikes
#2
Put credit spread
Sell 2026-07-24 $150.00/$145.00 put spread
Sell put spread above support to profit from time decay and stable price.
Credit: $1.42-$1.73
Max loss: $3.27
BE: $148.27
Mgmt: Exit if spot breaches short strike or at 50% max gain
#3
PMCC / LEAPS diagonal
Buy 2026-08-21 $160.00 call + sell 2026-07-10 $185.00 call
Long LEAPS call funds short front-month call, benefits from theta decay and upside.
Debit: $16.02-$19.58
Max loss: $19.58
BE: Path-dependent
Mgmt: Roll short call if tested, adjust delta

Risk Alerts

!High IV may decay quickly if no catalyst.
!Gamma flip at $125 a risk.
!Mixed dealer flow may cause volatility.
How to Use These Reports
This theta reflects the market close on June 18, 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.