Following data showing U.S. inflation had cooled in October, cryptocurrencies recorded gains on Thursday.
On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that Coinbase Global Inc. COIN traded 2 times its average daily options volume on Thursday.
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There were buyers of 26,234 of the November 18 weekly 50 puts at an average price of $4.21 per contract, Khouw mentioned. Traders expect Coinbase Global’s stock to decline by at least 10% by Friday expiration, he added.
COIN Price Action: Shares of Coinbase Global had risen by 10.74% to close at $50.92 on Thursday.