Option traders moderately bearish in Coinbase with shares down 1.65%

Core Viewpoint - Option traders exhibit a moderately bearish sentiment towards Coinbase (COIN), with shares currently priced at $195.36, down by $3.27 [1] Options Activity - Options volume is relatively light, with 78,000 contracts traded, and calls outnumbering puts, resulting in a put/call ratio of 0.43, significantly lower than the typical level of 1.24 [1] - Implied volatility (IV30) has increased by 0.3 points, reaching 70.47, which is in the top quartile of the past year, indicating an expected daily price movement of $8.67 [1] - The put-call skew has steepened, reflecting a heightened demand for downside protection among traders [1]