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COIN

Coinbase Global, Inc.Close $142.52EOD only

Max Pain

$167.50

Next expiry Jun 26, 2026

Expected Move

±$4.80

3.4% from close

Price Gap

+24.98

Distance to max pain

IV Rank

Low premium

P/C OI

0.87

Slightly call-heavy

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 25, 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 25, 2026 close

COIN Theta Report

Analysis based on market close June 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 5.4% from MP; +0.5 VIX 18; override: Base 6.5 +2 GEX/flow aligned -1 spot 5.4% below MP +0.5 VIX 18 = 8.0

IV Environment

IV Regime

High

IV vs VIX

COIN avg IV 89% vs VIX 18 - extremely elevated, rich premiums

Favorable?

Yes

Term structure: Contango with front-month at 65%+ rising to ~75% longer-term; favorable for rolling

📈IV 89% vs VIX 18 – exceptional premium opportunity

📉Dealer gamma -$9.6M suggests put hedging pressure

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-9.6M)

Gamma flip: ~$125.00 — Approx — based on put OI concentration of 15,509 (16.1% below spot)

OI concentrations: Call OI wall $160-$200; put floor $90-$125; max pain pins $158, $150, $155

Verdict: Spot $149 below max pain, likely pin to $150-$155 by expiration

Premium Opportunities

Iron condor

Sell 2026-07-31 $145.00/$140.00 put wing and $160.00/$165.00 call wing

Sells $145/$140 put and $160/$165 call wings, capitalizes on elevated IV.

Credit: $2.81-$3.44

Max loss: $1.56

BE: 141.56 / 163.44

Mgmt: Close at 50% max gain or before earnings.

Put credit spread

Sell 2026-07-24 $145.00/$140.00 put spread

Sells $145/$140 put spread, benefits from IV and pin support.

Credit: $1.82-$2.23

Max loss: $2.77

BE: $142.77

Mgmt: Close at 50% max gain or if spot drops below $140.

Risk Alerts

!Spot below max pain pin $158

!Negative dealer gamma may amplify moves

!Put-call ratio 1.25 elevated

How to Use These Reports

This theta reflects the market close on June 26, 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.