COIN (COIN) options memo

The Read

COIN is down 3.20% today at $148.68.

Options traders lean neutral into 2026-08-14, and neutral further out.

A move through $154.47 would change how dealers hedge this stock.

Key numbers

• Spot: $148.68
• Lean: neutral
• Nearest expiry: Fri 8/14
• Implied move: 3.9%
• ATM implied volatility: 73.7%
• Max pain: $149.00
• Pin strike: $165.00
• Gamma flip: $154.57
• Dealer positioning: SHORT GAMMA
• Call wall: $165.00
• Put wall: $145.00
• Put/call open interest: 0.558