Last week, we saw quite a bit of options action in Coinbase (COIN). The company runs a popular exchange for trading cryptocurrencies and has recently had an IPO, says Jay Soloff of Investors Alley.
On a day when the stock was up about 7%, 68% of the options volume was in calls. When significantly more calls than puts trade, it tends to be a bullish indicator. One of the larger trades of the day was a short put spread that reaches max gain as long as the stock remains above $250 by July 16th expiration.
Learn more about Jay Soloff at Investors Alley.