Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 vs 1882 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $188.14 vs 1882 OI; Earnings 5/1 After Close [est] Ref=$194.75

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 vs 907 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $180.56 vs 907 OI; Earnings 5/1 After Close [est] Ref=$187.23

Coinbase Global Option Alert: May 16 $190 Puts at the Ask: 360 vs 1481 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: May 16 $190 Puts at the Ask: 360 @ $21.3 vs 1481 OI; Earnings 5/1 After Close [est] Ref=$187.41

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $180.22 vs 907 OI; Earnings 5/1 After Close [est] Ref=$187.14

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $180.35 vs 907 OI; Earnings 5/1 After Close [est] Ref=$187.055

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $179.94 vs 907 OI; Earnings 5/1 After Close [est] Ref=$186.615411

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $179.27 vs 907 OI; Earnings 5/1 After Close [est] Ref=$186.11

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $180.14 vs 907 OI; Earnings 5/1 After Close [est] Ref=$187.23

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $179.85 vs 907 OI; Earnings 5/1 After Close [est] Ref=$186.42

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $179.92 vs 907 OI; Earnings 5/1 After Close [est] Ref=$186.66

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $179.75 vs 907 OI; Earnings 5/1 After Close [est] Ref=$186.32

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 50 @ $179.07 vs 907 OI; Earnings 5/1 After Close [est] Ref=$186.2512

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 100 vs 700 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Dec 19 $7.5 Calls at the Bid: 100 @ $183.22 vs 700 OI; Earnings 5/1 After Close [est] Ref=$190.08

Coinbase Global Option Alert: May, 2026 $220 Puts Sweep (3) near the Bid: 100 vs 235 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: May, 2026 $220 Puts Sweep (3) near the Bid: 100 @ $68.32 vs 235 OI; Earnings 5/1 After Close [est] Ref=$188.36

Coinbase Global Option Alert: Jan 16 $300 Puts Sweep (21) near the Bid: 100 vs 1653 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Jan 16 $300 Puts Sweep (21) near the Bid: 100 @ $123.178 vs 1653 OI; Earnings 5/1 After Close [est] Ref=$188.155

Coinbase Global Option Alert: Jul 18 $190 Puts at the Bid: 450 vs 341 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Jul 18 $190 Puts at the Bid: 450 @ $27.1 vs 341 OI; Earnings 5/1 After Close [est] Ref=$191.48

Coinbase Global Option Alert: May 16 $190 Puts at the Bid: 700 vs 961 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: May 16 $190 Puts at the Bid: 700 @ $19.45 vs 961 OI; Earnings 5/1 After Close [est] Ref=$191.87

Coinbase Global Option Alert: Dec 19 $160 Puts Sweep (28) near the Bid: 212 vs 1228 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Dec 19 $160 Puts Sweep (28) near the Bid: 212 @ $28.004 vs 1228 OI; Earnings 5/1 After Close [est] Ref=$184.17

Coinbase Global (NASDAQ:COIN) Stock

COINBASE GLOBAL INC -CLASS A

Coinbase Glb

Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.

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Circle Internet Financial, the company behind USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), is showing a mixed financial picture ahead of its planned public listing, with revenue up by 16%, but profitability down due to higher costs <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44567164/circle-eyes-5-billion-valuation-for-upcoming-initial-public-offering">and increased redemptions</a>.
What Happened: In a <a href="https://x.com/matthew_sigel/status/1907179407657365989">post</a> dissecting the newly filed S-1 prospectus, Matthew Sigel, Head of Digital Assets Research at VanEck, highlighted the disconnect between Circle's topline momentum and its bottom-line performance.
According to Sigel, the company's earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 78%, while net income dropped 66%, despite strong revenue growth. 
The reason: rising costs and a more competitive market environment.
Sigel noted that Circle's redemptions surged to $165 billion in 2023, up from $98 billion in 2022, suggesting that users are increasingly rotating capital in and out of the stablecoin—likely to optimize yield. 
He pointed to a "deterioration in margins" driven by this dynamic, as Circle's profitability depends heavily on its ability to retain interest-earning reserves.
On the expense side, Sigel observed that "Circle's share-based compensation rose from $103 million in 2022 to $164 million in 2023," an increase he labeled "arguably unjustified." 
The company's full-time employee count grew only modestly, from 326 to 359, indicating that higher average pay and equity grants significantly contributed to expense growth.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44603859/bitcoin-braces-for-trump-tariff-announcement-short-term-optimism-has-the-upper-hand-experts-say">Bitcoin Braces For Trump Tariff Announcement: &#8216;Short-Term Optimism&#8217; Has The Upper Hand, Experts Say</a>
Why It Matters: The financials also reflect a broader pressure on USDC's dominance.
While it remains the second-largest dollar-pegged stablecoin after Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), USDC's market share has faced headwinds in a highly competitive environment. 
Still, Circle reported interest income of $779 million in 2023, largely from its holdings in short-duration U.S. Treasuries.
Circle's IPO filing with the SEC signals the company's renewed ambition to go public, following its failed 2021 SPAC merger. 
The company intends to list its Class A shares on the New York Stock Exchange under the ticker symbol "CRCL," though pricing details remain undisclosed.
CEO Jeremy Allaire said that becoming a publicly traded firm is "a continuation of our dedication to transparency and accountability," positioning the IPO as part of Circle's broader mission to modernize financial infrastructure through blockchain-based assets.
The filing comes at a pivotal time, as USDC recently regained market confidence following a de-pegging scare linked to the Silicon Valley Bank crisis, and as political momentum builds around stablecoin legislation in the U.S. 
President Donald Trump has expressed support for stablecoin regulation aimed at preserving the dollar's global influence, a move that could benefit Circle as it enters public markets.
If successful, Circle would join the ranks of other publicly listed crypto companies such as Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), offering investors a new way to gain exposure to the <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44600089/circle-issuer-of-the-worlds-second-largest-stablecoin-files-for-ipo-amid-trumps-support-for-dollar-pegged-cryptos#google_vignette">rapidly evolving stablecoin sector.</a>
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Circle's Revenue Grows, But IPO Filing Shows Falling Profitability

Circle Internet Financial, the issuer of the world&#8217;s second-largest stablecoin, USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), filed a prospectus for an initial public offering with the Securities and Exchange Commission on Tuesday.
What Happened: The company plans to list its Class A common stock on the New York Stock Exchange&nbsp;under the ticker symbol "CRCL," according to an S-1 registration statement, a prerequisite for firms to go public.
The initial offering price range and the number of shares to be offered were not disclosed in the filing.
&#8220;Operating as a U.S.-listed public company represents our continued dedication to transparency and accountability, as we will become subject to the reporting, corporate governance, and other requirements that are applicable to a public company listed on the New York Stock Exchange,&#8221; Circle CEO Jeremy Allaire said.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44555553/will-the-greatest-of-them-all-trump-memecoin-make-its-way-to-trump-media-etfs-polymarket-bettors-think-its-unlikely">&#8216;Greatest Of Them All&#8217; TRUMP Memecoin Headed for Trump Media ETFs? Polymarket Bettors Think It&#8217;s Unlikely</a>
Why It Matters: This latest IPO filing marks Circle&#8217;s second major attempt to go public. The 2021 SPAC deal was abandoned due to regulatory delays and market turbulence caused by the <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35445270/the-true-cost-of-the-ftx-collapse-how-much-did-sam-bankman-fried-really-make" target="_blank" rel="noreferrer noopener">collapse of crypto exchange</a>&nbsp;FTX.
Following a brief de-pegging during the Silicon Valley Bank <a href="https://www.benzinga.com/government/23/03/31323955/the-big-picture-why-silicon-valley-bank-collapsed-a-simple-explainer">crisis</a>, when $3.3 billion in reserves were temporarily locked, USDC has since recovered, now boasting a $60 billion market capitalization, making it the second-largest dollar-pegged cryptocurrency after Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>).
The IPO filing follows President Donald Trump&#8217;s push to <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44420122/donald-trump-calls-for-stablecoin-legislation-lauds-bitcoin-reserve-biden-got-a-fraction-of-their-value">pass stablecoin legislation</a> to enhance the U.S. financial system and maintain the dollar&#8217;s global dominance.
If approved, Circle will join other cryptocurrency-related stocks, such as Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), on Wall Street. Check out Benzinga Edge Stock Rankings score to see <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">how these stocks rank</a> in terms of Growth, a measurement of the asset&#8217;s combined historical expansion in earnings and revenue.
Photo Courtesy: wei-ya2019 on Shutterstock.com
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Circle, Issuer Of the World's Second-Largest Stablecoin, Files For IPO Amid Trump's Support For Dollar-Pegged Cryptos

Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong is making a strong case for unlocking onchain interest for stablecoins, arguing that it offers a practical path to empowering consumers, expanding global financial access and reinforcing U.S. dollar dominance in the digital era.
What Happened: In a blog post <a href="https://x.com/brian_armstrong/article/1906723887112401179">published</a> Tuesday, Armstrong laid out a concise argument in favor of allowing interest to flow directly to stablecoin holders, similar to traditional savings accounts.
"Consumers deserve a bigger piece of the pie," he wrote. "Opening the door for onchain interest will force us all to up our game for the ultimate benefit of consumers."
Currently, stablecoin issuers like Circle—whose (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) token is backed 1:1 by U.S. dollars—invest reserves in low-risk assets such as short-term Treasuries.
The interest earned is typically kept by the issuer. 
Armstrong is pushing for a regulatory change that would allow stablecoin holders to receive this yield directly, bypassing intermediaries and mirroring the structure of interest-bearing bank accounts.
The stakes are high for consumers, Armstrong argued. While the average federal funds rate hovered around 4.75% in 2024, the typical consumer savings account paid just 0.41%—or as low as 0.01% in many cases. 
With inflation at roughly 3%, savers lost purchasing power in real terms. 
"Onchain interest democratizes access to the market rate yield," Armstrong wrote. "It gives regular people a fair shot at maintaining and growing their wealth."
Beyond U.S. borders, the implications are even more expansive. Armstrong pointed out that billions of people globally remain underbanked or lack access to stable fiat currencies. 
Also Read: <a href="https://www.benzinga.com/25/04/44587813/titandex-ceo-chris-chung-advocates-social-consensus-for-crypto-ethics-sees-bright-future-for-defi">Crypto Industry Needs To Enforce Ethical Norms, TitanDex CEO Chris Chung Says</a>
Onchain interest via USD-backed stablecoins could provide these users with interest-earning digital dollars, accessible from any internet-connected device—without branch visits, remittance fees, or hyperinflation risks.
Armstrong also stressed the macro benefits for the U.S. economy. Stablecoin issuers are already among the largest buyers of U.S. Treasuries. 
By enabling interest to be distributed to stablecoin users, Armstrong believes it would drive further global demand for dollar-backed assets, strengthening the dollar's role in the digital age. 
"More yield in consumers' hands means more spending, saving, investing—fueling economic growth in all local economies where stablecoins are held," he said.
However, current securities laws limit this potential. Unlike banks, stablecoin issuers face strict disclosure and compliance burdens if they attempt to pay interest to users—barriers Armstrong says are outdated. 
"The tech is all there, but the law hasn't caught up," he explained.
What&#8217;s Next: With Congress now actively <a href="https://www.benzinga.com/content/44516699/u-s-congress-advances-stablecoin-regulation-with-the-introduction-of-the-stable-act">debating stablecoin legislation</a>, Armstrong called on lawmakers to create a level playing field that allows regulated stablecoin issuers to share interest with users—without classifying those stablecoins as securities.
"We can choose to level the playing field and ensure these laws pave a way," he urged, "or we can protect an outdated system that pays the average person 0.01%."
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Coinbase CEO Brian Armstrong Advocates For Stablecoins: 'Consumers Deserve A Bigger Piece Of The Pie'

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This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$75.00</td>
<td>$45.7K</td>
<td>12.9K</td>
<td>6.5K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$41.50</td>
<td>$268.1K</td>
<td>869</td>
<td>1.9K</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/25/25</td>
<td>$44.00</td>
<td>$86.5K</td>
<td>97</td>
<td>1.9K</td>
</tr>
<tr>
<td>HOOD</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/15/27</td>
<td>$30.00</td>
<td>$669.6K</td>
<td>3.9K</td>
<td>1.0K</td>
</tr>
<tr>
<td>MS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/04/25</td>
<td>$119.00</td>
<td>$54.1K</td>
<td>285</td>
<td>1.0K</td>
</tr>
<tr>
<td>RKT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$9.20</td>
<td>$107.9K</td>
<td>346</td>
<td>576</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.00</td>
<td>$332.0K</td>
<td>2.8K</td>
<td>160</td>
</tr>
<tr>
<td>AIG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$75.00</td>
<td>$34.0K</td>
<td>177</td>
<td>100</td>
</tr>
<tr>
<td>PGR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/04/25</td>
<td>$260.00</td>
<td>$115.0K</td>
<td>25</td>
<td>50</td>
</tr>
<tr>
<td>KKR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$120.00</td>
<td>$59.2K</td>
<td>1.0K</td>
<td>46</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a call option trade that happens to be bullish, expiring in 109 day(s) on July 18, 2025. This event was a transfer of 129 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $45.7K, with a price of $355.0 per contract. There were 12921 open contracts at this strike prior to today, and today 6536 contract(s) were bought and sold. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a put option sweep that happens to be bearish, expiring in 17 day(s) on April 17, 2025. This event was a transfer of 1887 contract(s) at a $41.50 strike. This particular put needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $268.1K, with a price of $142.0 per contract. There were 869 open contracts at this strike prior to today, and today 1998 contract(s) were bought and sold. 
• Regarding AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we observe a call option sweep with bearish sentiment. It expires in 25 day(s) on April 25, 2025. Parties traded 206 contract(s) at a $44.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $86.5K, with a price of $420.0 per contract. There were 97 open contracts at this strike prior to today, and today 1932 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a put option trade with neutral sentiment. It expires in 655 day(s) on January 15, 2027. Parties traded 992 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $669.6K, with a price of $675.0 per contract. There were 3944 open contracts at this strike prior to today, and today 1050 contract(s) were bought and sold. 
• For MS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), we notice a call option sweep that happens to be bullish, expiring in 4 day(s) on April 4, 2025. This event was a transfer of 741 contract(s) at a $119.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $54.1K, with a price of $73.0 per contract. There were 285 open contracts at this strike prior to today, and today 1034 contract(s) were bought and sold. 
• Regarding RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we observe a call option sweep with bullish sentiment. It expires in 655 day(s) on January 15, 2027. Parties traded 254 contract(s) at a $9.20 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $107.9K, with a price of $425.0 per contract. There were 346 open contracts at this strike prior to today, and today 576 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option trade with bullish sentiment. It expires in 291 day(s) on January 16, 2026. Parties traded 20 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $332.0K, with a price of $16601.0 per contract. There were 2839 open contracts at this strike prior to today, and today 160 contract(s) were bought and sold. 
• For AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we notice a call option trade that happens to be bullish, expiring in 172 day(s) on September 19, 2025. This event was a transfer of 24 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $34.0K, with a price of $1420.0 per contract. There were 177 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• For PGR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), we notice a call option trade that happens to be neutral, expiring in 4 day(s) on April 4, 2025. This event was a transfer of 50 contract(s) at a $260.00 strike. The total cost received by the writing party (or parties) was $115.0K, with a price of $2300.0 per contract. There were 25 open contracts at this strike prior to today, and today 50 contract(s) were bought and sold. 
• For KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), we notice a put option sweep that happens to be bearish, expiring in 172 day(s) on September 19, 2025. This event was a transfer of 40 contract(s) at a $120.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $59.2K, with a price of $1480.0 per contract. There were 1050 open contracts at this strike prior to today, and today 46 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

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HOOD

10 Financials Stocks With Whale Alerts In Today's Session

Circle Internet Financial, the company behind the (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin, is reviving its public listing ambitions and is reportedly preparing to file for an <a href="https://www.benzinga.com/money/what-does-ipo-mean">initial public offering</a> by late April.
What Happened: The crypto-focused fintech is working with JPMorgan Chase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NASDAQ">JPM</a>) and Citi as advisors, Fortune <a href="https://fortune.com/2025/03/31/circle-jpmorgan-chase-crypto-usdc-citi-ipos-spac-sec/">reported</a> on Monday, quoting sources familiar with the matter.
This would mark Circle's second major attempt to go public. 
Its earlier 2021 effort via a SPAC deal was abandoned after regulatory delays and broader market turmoil following the <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35445270/the-true-cost-of-the-ftx-collapse-how-much-did-sam-bankman-fried-really-make">collapse of crypto exchange</a> FTX.
In January 2024, Circle confidentially filed with the SEC for a traditional IPO, and the upcoming public filing will provide the first official look at the company's financials.
Founded in 2013 by Jeremy Allaire and Sean Neville, Circle has evolved from a broader crypto services firm into a stablecoin-focused financial platform. 
Its USDC stablecoin, once operated through a consortium called Centre with Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) as its sole remaining partner, has seen a dramatic rebound since early 2023. 
Following a brief de-pegging during the Silicon Valley Bank crisis—when $3.3 billion in reserves were temporarily locked—USDC has since recovered, now boasting a $60 billion market cap.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44564969/tom-lee-says-weve-got-the-right-pieces-for-a-bottom-bitcoin-could-do-well-into-year-end">Tom Lee Says &#8216;We&#8217;ve Got The Right Pieces For A Bottom,&#8217; Bitcoin &#8216;Could Do Well Into Year-End&#8217;</a>
Despite its growth, Circle's financial health remains closely tied to interest income. As of the first half of 2023, 99% of its revenue came from interest earned on reserve assets like U.S. Treasuries. 
Circle is reportedly seeking a valuation between $4 billion and $5 billion for its IPO, a sharp drop from the $9 billion valuation it reached during its SPAC attempt.
Why It Matters: Circle's public debut would be the largest crypto IPO since Coinbase went public in 2021.
Like Coinbase, Circle's IPO is arriving as the market for new listings shows renewed signs of life. 
So far in 2025, IPO activity has jumped 70% compared to the same period last year, signaling a more favorable climate for tech and crypto companies.
With stablecoin regulation advancing in Washington—backed by a pro-crypto stance from President Trump—Circle&#8217;s positioning in the market appears timely. 
However, the company now faces increased competition from both crypto-native firms and traditional finance players like PayPal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NYSE">PYPL</a>) and Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), which have launched stablecoins of their own.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44560290/trump-family-to-dive-into-bitcoin-mining-after-defi-meme-coin-projects">Trump Family To Dive Into Bitcoin Mining After DeFi, Meme Coin Projects</a></li>
</ul>
Image: Shutterstock

$XRP

PYPL

Circle Eyes $5 Billion Valuation For Upcoming Initial Public Offering

Deep-pocketed investors have adopted a bearish approach towards Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COIN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 42 extraordinary options activities for Coinbase Global. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 23% leaning bullish and 50% bearish. Among these notable options, 22 are puts, totaling $2,213,841, and 20 are calls, amounting to $1,272,231.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2.5 to $500.0 for Coinbase Global over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Coinbase Global's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Coinbase Global's whale activity within a strike price range from $2.5 to $500.0 in the last 30 days. 
<h3>Coinbase Global 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743432358_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$32.35</td>
<td>$31.35</td>
<td>$32.25</td>
<td>$170.00</td>
<td>$341.8K</td>
<td>404</td>
<td align="right">106</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$105.4</td>
<td>$104.15</td>
<td>$104.6</td>
<td>$270.00</td>
<td>$261.5K</td>
<td>612</td>
<td align="right">25</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$29.4</td>
<td>$28.65</td>
<td>$29.1</td>
<td>$195.00</td>
<td>$218.3K</td>
<td>646</td>
<td align="right">207</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$134.2</td>
<td>$132.1</td>
<td>$132.94</td>
<td>$300.00</td>
<td>$212.6K</td>
<td>1.2K</td>
<td align="right">53</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$10.05</td>
<td>$9.65</td>
<td>$9.84</td>
<td>$150.00</td>
<td>$192.7K</td>
<td>3.3K</td>
<td align="right">735</td>
</tr>
</tbody>
</table>

<h3>About Coinbase Global</h3>
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
After a thorough review of the options trading surrounding Coinbase Global, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Coinbase Global's Current Market Status</h3>
<ul>
<li>With a trading volume of 2,856,619, the price of COIN is down by -4.1%, reaching $166.79.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 31 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Coinbase Global</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $284.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Bernstein lowers its rating to Outperform with a new price target of $310. 
&#x2A; Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Coinbase Global, targeting a price of $305. 
&#x2A; Reflecting concerns, an analyst from Rosenblatt lowers its rating to Buy with a new price target of $305. 
&#x2A; Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Coinbase Global, targeting a price of $305. 
&#x2A; Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Neutral with a new price target of $195.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Coinbase Global options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

This Is What Whales Are Betting On Coinbase Global

Knowing which <a href="https://www.benzinga.com/personal-finance/25/03/44376666/high-yield-dividend-investor-making-12900-per-year-names-10-favorite-stocks-took-me-almost-3-years-to-get-to-this-point">stocks</a> to hold for the long term and which to sell before they drag down your portfolio is a challenge every investor faces at least once in their journey.
Some swear by the &#8220;buy and hold&#8221; strategy, while others advocate for constant rebalancing of a portfolio to mitigate <a href="https://www.benzinga.com/personal-finance/25/03/44476778/author-says-dave-ramsey-is-completely-ignorant-of-sequence-of-returns-risk-questions-whether-1-million-is-really-enough-for-retirement">risk</a>. The issue becomes even more pronounced when a portfolio is heavily condensed in high-growth but volatile sectors like technology.
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One such investor recently took to Reddit to seek advice on his $14,228 portfolio, which includes tech giants like Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)​, Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>, GOOG)), and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), alongside ETFs like Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), and even some crypto-linked stocks like Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>).
The poster is considering adding Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) to his portfolio but is unsure if now is the right time. He&#8217;s also wondering whether to keep high-risk stocks like TSLA, COIN, and MSTR or shift to more stable assets and how to diversify his portfolio further.
Trending: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
The Reddit community has come forward with plenty of advice in the comments; let&#8217;s see what they say.
<h2 class="wp-block-heading">Hold or Sell? Investor With $14,000 Tech-Heavy Portfolio Ponders Diversification–Reddit Advises Him</h2>
Diversify into Other Sectors or Broader ETFs
Many Redditors indicated that the investor&#8217;s portfolio is way too concentrated in tech, which increases risk. Instead, they suggested reducing individual stock holdings and adding ETFs to gain exposure to other sectors.
&#8220;I am sure you know this, but VOO/QQQ includes all of the individual companies that you have the majority of your portfolio invested in,&#8221; a comment says.
Advising the poster to diversify his portfolio, one Redditor suggested choosing either VOO or QQQ, but not both.
&#8220;You own good companies! Personally, I would choose one of the two VOO/QQQ not both, but that&#8217;s just me and is not really a big deal&#8230; Other than that, I like everything else; I think I own all of them, except COIN. Look into buying other sectors, you are too heavily concentrated on tech.&#8221;
A commenter advised the poster to add a broad-market ETF to reduce complexity and risk.
&#8220;Too complex for this volume, many duplicates and missing diversification. Just do VOO or an [MSCI (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msci#NYSE">MSCI</a>)] world index and that's it,&#8221; he wrote.
&#8220;VOO and QQQ are redundant and lend even more weight to the Mag 7. COIN, MSTR, TSLA, and NVDA are no-go long-term, I think. Try to add something more stable like [Raytheon Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>)], [UnitedHealth Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unh#NYSE">UNH</a>)], or [The Coca-Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>)],&#8221; a user suggested.
A Redditor recommended the investor add a mix of ETFs and stable dividend-paying stocks to improve the portfolio&#8217;s resilience.
&#8220;Continue with VOO, [Invesco NASDAQ 100 ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqqm#NASDAQ">QQQM</a>)] only, and get some solid plays added from now on, diversify a bit. Can stick with ETFs or index, defense, utilities, energy, health care, precious metals, [Berkshire Hathaway (NYSE: BRK.A, BRK.B)], with the trade war, you need stuff that can survive. Look for some balance now with solid legacy names with dividends,&#8221; he wrote.
See Also: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
Sell TSLA, COIN, and MSTR
The poster&#8217;s most controversial holdings were TSLA, COIN, and MSTR, and some commenters argued that he should get rid of them since they&#8217;re too risky for a 10-year hold.
&#8220;Sell the TSLA and take the win; it's overvalued dramatically,&#8221; a comment reads.
&#8220;I'd scrub TSLA and MSTR and put it in VOO or QQQ. Tesla's valuation is and has been insane forever, even after the sell-off. The fundamentals are just awful for its valuation. And that's not even dipping into political stuff. Plus, it's already a decent weight in VOO anyway. And MSTR is straight-up junk,&#8221; a Redditor said.
This user also suggested selling the three stocks, saying, &#8220;I would personally remove MSTR, COIN, and TSLA and buy more of QQQ/VOO.&#8221;
&#8220;Get rid of TSLA before it wrecks your portfolio!&#8221; another comment reads.
One Redditor shared he would never hold MSTR for the long term, and suggested HOOD instead of COIN.
&#8220;No way I would hold MSTR for 10 years. You are playing crypto with COIN; in my opinion, HOOD is the better bet now that they are getting into the higher-margin gambling business. If you want Bitcoin exposure, buy [iShares Bitcoin Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibit#NASDAQ">IBIT</a>)].
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<li><a href="https://www.benzinga.com/money/arrived-centennial">Jeff Bezos-Backed Arrived Homes Hits A Big Sale On Charlotte Property – Investors Earning A 34.7% Return</a></li>
<li>It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a></li>
</ul>

Personal Finance

AMZN

GOOGL

IBIT

MSCI

NVDA

QQQM

TSLA

$14K Investor In TSLA, NVDA, And QQQ Faces Dilemma – 'Looking To Hold For At Least 10 Years' But Is That A Recipe For Disaster? Reddit Debates

From a snapshot perspective of market sentiment, cryptocurrency exchange and services provider Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) does not appear to be walking on auspicious grounds. 
Instead, circumstances seem quite bearish. Still, a rotation in opinion may be materializing among smart money traders or the so-called whales. As such, bullish speculators may have a fast-approaching opportunity in Coinbase stock.
Again, at first glance, the notion of imminent upside appears far-fetched, to say the least. One of the more damning indicators is the <a href="https://www.benzinga.com/topic/death-cross">death cross</a>. A phenomenon that describes when a shorter-running moving average slips beneath a longer-running average — typically the 50-day moving average falling below the 200 DMA — the death cross symbolizes a deceleration of momentum. In some cases, it could also signal the beginning of a prolonged downturn or an outright bear market.
To be clear, Coinbase stock has yet to officially print a death cross — but, it's very much on the cusp of doing so. At time of writing on Friday, Coinbase&#8217;s 50 DMA lands at $239.54, while the 200 DMA sits at $232.26 — a gap of only 3.13%. Today's big drop, contributing to a five-day loss of roughly 12%, has accelerated the likelihood of the dreaded signal flashing.
What's more, technical analysts have warned certain cryptos themselves are <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44523170/bitcoin-ethereum-xrp-dogecoin-trade-sideways-as-trader-warns-of-potential-btc-death-cross">at risk of printing the death cross</a>. Since Coinbase stock in many ways represents a proxy of the broader crypto complex, an erosion of confidence in the underlying benchmark would seem to bode poorly for Coinbase stakeholders.
<h1 class="wp-block-heading">Why Coinbase Stock Could be Offering a Contrarian Setup</h1>
Despite the ominous-sounding nature of the death cross, in certain situations, the technical pattern could represent a bullish contrarian signal. In other words, rather than representing a warning of imminent doom, the bearish crossing of the moving averages could instead be a discount.
Following its <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20615624/coinbase-direct-listing-what-you-need-to-know-ahead-of-crypto-exchanges-public-debut">direct listing</a> in April 2021, Coinbase stock has printed three death crosses, as follows:
<ul>
<li>On Jan. 27, 2022, Coinbase's 50 DMA fell below its 200 DMA, with a closing price of $170.20.</li>
<li>On June 22, 2023, Coinbase flashed the signal, closing at $57.49.</li>
<li>On Sept. 9, 2024, Coinbase last signaled the death cross at a closing price of $170.09.</li>
</ul>
Although it's an extremely small sample size, it's intriguing that in every case, Coinbase stock has jumped higher one month after the death cross flashed. Starting from the first death cross, the post-one-month price of Coinbase clocked in at $190.77, $98.85 and $213.72, for an average return of 36.56%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-1024x576.jpg" alt="" class="wp-image-847616" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Adding to the speculative fire is the pivoting of sentiment among the whales. On March 18, Benzinga's <a href="https://www.benzinga.com/insights/options/25/03/44379101/looking-at-coinbase-globals-recent-unusual-options-activity">options scanner</a> identified unusual options activity that was net bearish. Specifically, the biggest transaction in terms of dollar volume were for the sale of $300 calls expiring June 20 of this year. There were other sold calls expiring on the aforementioned date with a strike price of $150.
Based on the premiums received, readers can infer that participating institutional traders do not anticipate Coinbase stock breaking above the $190 level. While this sounds pessimistic, <a href="https://www.benzinga.com/insights/options/25/03/44494635/looking-at-coinbase-globals-recent-unusual-options-activity">more recent options scans</a> show a gradual sentiment shift.
During the midweek session, the biggest non-neutral transaction was for the purchase of $5 calls with an expiration date of Dec. 19, 2025. These ultra-deep in-the-money (ITM) calls carried a premium (ask price) of $200.25. By adding this premium to the strike price, one can presume that participating traders anticipate Coinbase stock breaking above $205.25 before Dec. 19 — preferably significantly above $205.25 and well before Dec. 19.
Finally, it's worth pointing out that around the $175 level, Coinbase stock is trading on a long-term support line. Therefore, it wouldn't be out of the question for Coinbase shares to pop higher, if only as a dead-cat bounce.
<h1 class="wp-block-heading">Waiting for the Right Moment</h1>
As stated earlier, the death cross has yet to materialize, although that day could come at any moment, depending on the volatility of Coinbase stock. It's also worth pointing out that history isn't guaranteed to repeat. While Coinbase currently offers a "perfect" death cross record, there are no promises that the fourth edition will pan out favorably.
Nevertheless, assuming that Coinbase stock prints the death cross next week, a rebound could materialize by the options chain expiring May 2. Conservatively, the average return of the lower-performing death crosses comes in at nearly 19%, implying a price target of around $208. To be blunt, speculators have enticing avenues to consider.
For example, aggressive traders may consider the 200/205 bull spread. This transaction involves buying the $200 call (at a time-of-writing ask of $750) and simultaneously selling the $205 call (at a $550 bid). The proceeds from the short call partially offset the debit paid for the long call, resulting in a net cash outlay of $200. Should Coinbase hit the short strike price at expiration, the reward is $300, or a 150% payout.
For the same May 2 expiration date, ultra-aggressive traders could bump up the call spread's short strike to $210; that is, buy the 200/210 spread. This transaction involves a net cash outlay of $310, while the maximum reward rises to $690, or a blistering payout of almost 223%.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44524353/hpe-stock-death-cross-contrarian-opportunity"> • Options Corner: Why Hewlett Packard Enterprise&#8217;s Death Cross Could Be A Contrarian Indicator</a>
Photo: rafapress on Shutterstock

Equities

Long Ideas

Options Corner: Coinbase's Crossroads — Bearish Signal Or Bullish Opportunity?

Macro analyst Capital Flows has identified Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) increasing correlation with traditional risk assets, particularly low-quality banks in the Russell index, as key to understanding its price trajectory in the <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44542682/bitcoin-crashes-below-84000-but-heres-why-experts-expect-stronger-sentiment-soon">current market environment</a>.
What Happened: &#8220;Bitcoin is having a greater convergence with traditional risk asset flows but remains at the far end of the risk curve,&#8221; Capital Flows stated in a <a href="https://x.com/Globalflows/status/1905343513971310915">thread</a> on X on Friday, noting that capital must move outward from less risky assets to reach Bitcoin.
This positioning explains why Bitcoin has been &#8220;moving lockstep with all of the lowest quality banks in the Russell&#8221; &#8211; both are highly sensitive to changes in macro liquidity conditions.
The analyst characterized the current macro backdrop as &#8220;neutral,&#8221; with interest rates having &#8220;come down marginally&#8221; but the carry trade continuing to create risk for assets while &#8220;the quantity of money in the system isn&#8217;t expanding like it used to.&#8221; 
Cross-currency basis swaps show no signs of a &#8220;massive injection of macro liquidity,&#8221; and year-to-date ETF flows remain &#8220;only marginally positive.&#8221;
For Bitcoin to reach the $100,000 range, Capital Flows emphasized the need for a &#8220;durable change in macro liquidity which isn&#8217;t taking place right now.&#8221; 
Without such a shift, another equity market decline could push Bitcoin down to the &#8220;$72-75,000 range&#8221; as implied volatility premiums increase.
The analyst highlighted Strategy&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) continued Bitcoin purchases as a positive factor, describing the company as &#8220;continuing to hit the bid and take on more risk to buy massive amounts of Bitcoin.&#8221; 
Both Strategy and Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) currently show an &#8220;implied volatility discount&#8221; after the recent market bounce, suggesting &#8220;upside is likely limited&#8221; from a positioning perspective.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44537514/bitcoin-tumbles-below-85000-is-the-bull-run-over">Bitcoin Tumbles Below $85,000: Is The Bull Run Over?</a>
What&#8217;s Next: Despite these short-term concerns, Capital Flows noted Bitcoin&#8217;s current 22% drawdown from all-time highs is &#8220;nowhere near as bad as it could be compared to historical parallels,&#8221; reflecting Bitcoin&#8217;s gradual integration &#8220;into the legacy financial system as a digital gold type of asset.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44506865/michael-saylors-unusual-bitcoin-plan-for-the-afterlife-making-everyone-richer-and-more-pow">Michael Saylor&#8217;s Unusual Bitcoin Plan For The Afterlife: &#8216;Making Everyone Richer And More Powerful&#8217;</a></li>
</ul>
Image: Shutterstock

$BTC

Bitcoin, Strategy, Coinbase Feel The Heat From Stock Market Drawdown: 'Upside Is Likely Limited,' Analyst Says

Markets faltered on Friday, with Wall Street reeling as investors hurried to shed risk in the face of mounting <a href="https://www.benzinga.com/25/03/44537936/consumer-inflation-expectations-skyrocket-in-march-hit-highest-levels-in-32-years">inflation and tariff uncertainties.</a>
The S&amp;P 500 fell 2.1% by 1:30 p.m. trading in New York, on track to end the week with losses. The tech-heavy Nasdaq 100 tumbled 2.6%, and the Dow fell 1.7%. 
All members of the Magnificent Seven group were in the red, with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) marking the widest drops, both down 4.4%.
Earlier on Friday, the Fed's favorite inflation gauge – the core Personal Consumption Expenditure price index – rose 2.8% on a yearly basis in February, surprising estimates of 2.7%. 
Investor anxiety deepened following the latest University of Michigan Survey of Consumers, which showed 5-year forward inflation expectations jumping to 4.1% — a 0.2-point increase from prior estimates and the highest reading since February 1993. As stocks fell in unison, a flight to safety ensued, sending gold up 1% to a record-breaking $3,090 per ounce. Treasury bonds also rallied, with yields declining across all maturities. 
Price action in commodities was mixed with oil down 1% and natural gas up 2.4%. Sentiment in crypto also took a sharp hit, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down by 4% to below $84,000, flipping to weekly losses.
<h3 class="wp-block-heading">Friday's Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,597.02</td>
<td>-1.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,574.84</td>
<td>-2.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,016.62</td>
<td>-2.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,283.98</td>
<td>-2.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;fell 2.1% to $555.41.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 1.8% to $415.31.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;dropped 2.7% to $468.61.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)&nbsp;fell 2.5% to $199.57</li>
<li>The&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.9%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;lagged, down 3.2%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Shares of Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) sunk 15% in reaction to the company&#8217;s earnings report. </li>
<li>Michigan-based automakers extended losses as investors asses the impact from tariffs. General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) fell 2% following a nearly 6% drop on Thursday. Ford Motor. Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell 2.7% after a 3.9% drop a day earlier.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) erased Thursday&#8217;s gains and fell 3.5%. </li>
<li>Crypto-related stocks plummeted, with Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) down nearly 10%. Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) fell over 7%, heading for the lowest close since mid-October 2024. </li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44541993/kinder-morgan-set-for-q1-growth-amid-rising-lng-demand-says-analyst">Goldman Sachs Forecasts High Gas Prices And LNG Demand Drive Kinder Morgan&#8217;s Revenue</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Macro Economic Events

Sector ETFs

Broad U.S. Equity ETFs

Commodities

Econ #s

Economics

ETFs

SPDR Dow Jones Industrial Average ETF Trust

LULU

Select Sector SPDR-Consumer Discretionary

Inflation Fears Spark Risk-Off Sentiment As Magnificent 7 Drop: What's Driving Markets Friday?

Shares of Bitcoin miners and crypto-linked stocks are trading lower following greater-than-expected inflation data measured through the PCE price index for February, while personal spending missed estimates. Additionally, recent tariff announcements may be weighing on the space.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BAC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$44.00</td>
<td>$305.1K</td>
<td>1.2K</td>
<td>4.9K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$60.00</td>
<td>$106.8K</td>
<td>2.5K</td>
<td>2.0K</td>
</tr>
<tr>
<td>C</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$70.00</td>
<td>$342.1K</td>
<td>12.4K</td>
<td>1.2K</td>
</tr>
<tr>
<td>AIG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$82.00</td>
<td>$55.0K</td>
<td>55</td>
<td>1.0K</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$17.00</td>
<td>$29.2K</td>
<td>32.5K</td>
<td>581</td>
</tr>
<tr>
<td>UPST</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/25/25</td>
<td>$50.00</td>
<td>$40.9K</td>
<td>338</td>
<td>207</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$400.00</td>
<td>$33.4K</td>
<td>8.5K</td>
<td>183</td>
</tr>
<tr>
<td>XYZ</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/17/25</td>
<td>$59.00</td>
<td>$34.0K</td>
<td>47</td>
<td>116</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$30.00</td>
<td>$174.5K</td>
<td>327</td>
<td>103</td>
</tr>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/02/25</td>
<td>$78.00</td>
<td>$40.5K</td>
<td>36</td>
<td>17</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a call option trade that happens to be bullish, expiring in 113 day(s) on July 18, 2025. This event was a transfer of 1518 contract(s) at a $44.00 strike. The total cost received by the writing party (or parties) was $305.1K, with a price of $201.0 per contract. There were 1254 open contracts at this strike prior to today, and today 4906 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a call option trade with bullish sentiment. It expires in 113 day(s) on July 18, 2025. Parties traded 449 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $106.8K, with a price of $238.0 per contract. There were 2523 open contracts at this strike prior to today, and today 2001 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a put option trade with bullish sentiment. It expires in 85 day(s) on June 20, 2025. Parties traded 1100 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $342.1K, with a price of $311.0 per contract. There were 12434 open contracts at this strike prior to today, and today 1200 contract(s) were bought and sold. 
• Regarding AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we observe a put option sweep with bearish sentiment. It expires in 8 day(s) on April 4, 2025. Parties traded 1000 contract(s) at a $82.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $55.0K, with a price of $55.0 per contract. There were 55 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bearish, expiring in 295 day(s) on January 16, 2026. This event was a transfer of 200 contract(s) at a $17.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $29.2K, with a price of $146.0 per contract. There were 32501 open contracts at this strike prior to today, and today 581 contract(s) were bought and sold. 
• Regarding UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we observe a call option trade with bearish sentiment. It expires in 29 day(s) on April 25, 2025. Parties traded 100 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $40.9K, with a price of $410.0 per contract. There were 338 open contracts at this strike prior to today, and today 207 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bearish, expiring in 295 day(s) on January 16, 2026. This event was a transfer of 41 contract(s) at a $400.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $33.4K, with a price of $815.0 per contract. There were 8521 open contracts at this strike prior to today, and today 183 contract(s) were bought and sold. 
• For XYZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), we notice a put option trade that happens to be neutral, expiring in 21 day(s) on April 17, 2025. This event was a transfer of 100 contract(s) at a $59.00 strike. The total cost received by the writing party (or parties) was $34.0K, with a price of $340.0 per contract. There were 47 open contracts at this strike prior to today, and today 116 contract(s) were bought and sold. 
• For AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we notice a call option sweep that happens to be bearish, expiring in 21 day(s) on April 17, 2025. This event was a transfer of 103 contract(s) at a $30.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $174.5K, with a price of $1695.0 per contract. There were 327 open contracts at this strike prior to today, and today 103 contract(s) were bought and sold. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option sweep with neutral sentiment. It expires in 36 day(s) on May 2, 2025. Parties traded 471 contract(s) at a $78.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $40.5K, with a price of $86.0 per contract. There were 36 open contracts at this strike prior to today, and today 17 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SOFI

UPST

10 Financials Stocks Whale Activity In Today's Session

Shares of Bitcoin miners and crypto-linked stocks are trading lower as Bitcoin falls, following the broader market decline.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HOOD</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/28/25</td>
<td>$43.00</td>
<td>$64.0K</td>
<td>5.0K</td>
<td>4.4K</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$12.00</td>
<td>$58.0K</td>
<td>4.7K</td>
<td>4.0K</td>
</tr>
<tr>
<td>NU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/04/25</td>
<td>$10.00</td>
<td>$25.6K</td>
<td>224</td>
<td>3.8K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$85.00</td>
<td>$538.0K</td>
<td>6.6K</td>
<td>1.5K</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$550.00</td>
<td>$42.3K</td>
<td>72</td>
<td>204</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$70.00</td>
<td>$36.7K</td>
<td>5.0K</td>
<td>198</td>
</tr>
<tr>
<td>ICE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$185.00</td>
<td>$27.8K</td>
<td>25</td>
<td>159</td>
</tr>
<tr>
<td>USB</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/19/25</td>
<td>$52.50</td>
<td>$31.3K</td>
<td>699</td>
<td>122</td>
</tr>
<tr>
<td>EEFT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$105.00</td>
<td>$35.0K</td>
<td>3</td>
<td>100</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$2.50</td>
<td>$190.9K</td>
<td>3.7K</td>
<td>87</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a put option trade with neutral sentiment. It expires in 2 day(s) on March 28, 2025. Parties traded 1000 contract(s) at a $43.00 strike. The total cost received by the writing party (or parties) was $64.0K, with a price of $64.0 per contract. There were 5037 open contracts at this strike prior to today, and today 4469 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option trade that happens to be bearish, expiring in 9 day(s) on April 4, 2025. This event was a transfer of 500 contract(s) at a $12.00 strike. The total cost received by the writing party (or parties) was $58.0K, with a price of $116.0 per contract. There were 4721 open contracts at this strike prior to today, and today 4067 contract(s) were bought and sold. 
• Regarding NU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), we observe a put option sweep with bearish sentiment. It expires in 9 day(s) on April 4, 2025. Parties traded 3611 contract(s) at a $10.00 strike. This particular put needed to be split into 32 different trades to become filled. The total cost received by the writing party (or parties) was $25.6K, with a price of $7.0 per contract. There were 224 open contracts at this strike prior to today, and today 3862 contract(s) were bought and sold. 
• For C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we notice a call option sweep that happens to be bullish, expiring in 296 day(s) on January 16, 2026. This event was a transfer of 1474 contract(s) at a $85.00 strike. This particular call needed to be split into 60 different trades to become filled. The total cost received by the writing party (or parties) was $538.0K, with a price of $365.0 per contract. There were 6601 open contracts at this strike prior to today, and today 1528 contract(s) were bought and sold. 
• For GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we notice a call option trade that happens to be bearish, expiring in 660 day(s) on January 15, 2027. This event was a transfer of 4 contract(s) at a $550.00 strike. The total cost received by the writing party (or parties) was $42.3K, with a price of $10580.0 per contract. There were 72 open contracts at this strike prior to today, and today 204 contract(s) were bought and sold. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a put option sweep that happens to be bearish, expiring in 86 day(s) on June 20, 2025. This event was a transfer of 144 contract(s) at a $70.00 strike. This particular put needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $36.7K, with a price of $255.0 per contract. There were 5001 open contracts at this strike prior to today, and today 198 contract(s) were bought and sold. 
• For ICE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), we notice a call option sweep that happens to be bullish, expiring in 51 day(s) on May 16, 2025. This event was a transfer of 159 contract(s) at a $185.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $27.8K, with a price of $175.0 per contract. There were 25 open contracts at this strike prior to today, and today 159 contract(s) were bought and sold. 
• Regarding USB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), we observe a put option sweep with neutral sentiment. It expires in 177 day(s) on September 19, 2025. Parties traded 33 contract(s) at a $52.50 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $31.3K, with a price of $948.0 per contract. There were 699 open contracts at this strike prior to today, and today 122 contract(s) were bought and sold. 
• Regarding EEFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEFT#NASDAQ">EEFT</a>), we observe a put option trade with bullish sentiment. It expires in 51 day(s) on May 16, 2025. Parties traded 100 contract(s) at a $105.00 strike. The total cost received by the writing party (or parties) was $35.0K, with a price of $350.0 per contract. There were 3 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option trade with bearish sentiment. It expires in 86 day(s) on June 20, 2025. Parties traded 10 contract(s) at a $2.50 strike. The total cost received by the writing party (or parties) was $190.9K, with a price of $19090.0 per contract. There were 3779 open contracts at this strike prior to today, and today 87 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

EEFT

While Coinbase Global Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) trading volumes have decelerated significantly, investors seem to be underestimating the potential of the company's <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44456074/tokenization-will-merge-crypto-and-equities-bernstein">non-trading revenue streams</a>, according to Rosenblatt Securities.
The Coinbase Global Analyst: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5841bdbcaae83900016b3c77/chris-brendler">Analyst Chris Brendler</a> on Wednesday reiterated a Buy rating and price target of $305.
The Coinbase Global Thesis: Recent trends indicate "a material slowdown" in the company's trading volumes, with the daily average in March down 20% month-on-month and 30% below January's daily average, Brendler said in the note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"If March&#8217;s lackluster pace continues throughout 2Q25, we estimate COIN trading volume would be $335B, about 4% below our current $350B estimate," the analyst wrote. He added, however, that this weakness is unlikely to continue given positive tailwinds from the U.S. government's change in stance regarding cryptocurrencies.
Although trading volumes have slowed, Coinbase Global continues to gain market share, Brendler said.
Stablecoin growth has accelerated to reach a record high in March, with the growth being led by USDC, which is up 36% year to date versus only 5% for Tether. USDC's market share gains are likely to continue and Coinbase Global's 50% ownership of USDC is "an underappreciated positive," he wrote.
COIN Price Action: Shares of Coinbase Global had declined by 2.8% to $198.37 at the time of publication on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44491124/strategic-bitcoin-reserve-eliminates-last-threat-says-bitwises-matt-hougan">Strategic Bitcoin Reserve Eliminates Last Threat, Says Bitwise&#8217;s Matt Hougan</a></li>
</ul>
Photo by rafapress on Shutterstock.

Analyst Color

Reiteration

Analyst Ratings

Movers

Trading Ideas

Despite Volume Drop, Coinbase Analyst Highlights Stablecoin Momentum, Competitive Edge

Financial giants have made a conspicuous bearish move on Coinbase Global. Our analysis of options history for Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) revealed 18 unusual trades.
Delving into the details, we found 27% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $633,400, and 12 were calls, valued at $803,970.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $250.0 for Coinbase Global during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Coinbase Global's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Coinbase Global's significant trades, within a strike price range of $5.0 to $250.0, over the past month.
<h3>Coinbase Global Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1742997733_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>03/28/25</td>
<td>$21.85</td>
<td>$21.85</td>
<td>$21.85</td>
<td>$225.00</td>
<td>$327.7K</td>
<td>177</td>
<td align="right">0</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$200.25</td>
<td>$195.55</td>
<td>$199.69</td>
<td>$5.00</td>
<td>$199.6K</td>
<td>608</td>
<td align="right">20</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$195.2</td>
<td>$190.55</td>
<td>$193.43</td>
<td>$5.00</td>
<td>$193.4K</td>
<td>608</td>
<td align="right">40</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/19/25</td>
<td>$194.7</td>
<td>$190.55</td>
<td>$192.97</td>
<td>$5.00</td>
<td>$96.4K</td>
<td>608</td>
<td align="right">60</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$5.85</td>
<td>$5.45</td>
<td>$5.85</td>
<td>$185.00</td>
<td>$94.7K</td>
<td>1.2K</td>
<td align="right">191</td>
</tr>
</tbody>
</table>

<h3>About Coinbase Global</h3>
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
After a thorough review of the options trading surrounding Coinbase Global, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Coinbase Global</h3>
<ul>
<li>Currently trading with a volume of 919,286, the COIN's price is up by 0.05%, now at $204.33. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 36 days.</li>
</ul>
<h3>Professional Analyst Ratings for Coinbase Global</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $288.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Coinbase Global, targeting a price of $311. 
&#x2A; In a cautious move, an analyst from Rosenblatt downgraded its rating to Buy, setting a price target of $305. 
&#x2A; Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Coinbase Global with a target price of $305. 
&#x2A; An analyst from Mizuho has decided to maintain their Neutral rating on Coinbase Global, which currently sits at a price target of $217. 
&#x2A; An analyst from Rosenblatt has decided to maintain their Buy rating on Coinbase Global, which currently sits at a price target of $305. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coinbase Global with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Looking At Coinbase Global's Recent Unusual Options Activity

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, declared that the final existential threat to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) vanished with President Trump's recent executive order establishing a <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43889897/bitcoin-strategic-reserve-with-1-million-btc-could-offset-21-trillion-national-debt">U.S. Strategic Bitcoin Reserve</a>.
What Happened: In a note <a href="https://experts.bitwiseinvestments.com/cio-memos/the-great-derisking-of-bitcoin">released</a> on Tuesday, Hougan argued that this move eliminates the lingering fear of a government ban, marking the present as the safest time ever to invest in Bitcoin on a risk-adjusted basis.
Hougan traced Bitcoin's journey from its early days, recalling a 2011 meeting at ETF.com where it first hit $1—a moment he skipped investing in due to steep risks like shaky exchanges and regulatory uncertainty. 
"Back then, putting $1,000 into Bitcoin was a massive gamble," he wrote, citing issues like New Liberty Financial's sketchy setup and the lack of secure custody. 
Over time, he noted, Bitcoin overcame technical doubts, trading woes with Coinbase's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rise, and custody fears as firms like Fidelity stepped in, steadily chipping away at its vulnerabilities.
The turning point, Hougan emphasized, came with Trump's order this month, which positions Bitcoin as a federal reserve asset using seized coins. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44486447/ripple-closes-in-on-legal-resolution-with-sec-will-recover-75-million-from-original-fine">Ripple Closes In On Legal Resolution With SEC, Will Recover $75 Million From Original Fine</a>
"The last existential risk I always mentioned at conferences was a U.S. ban—now it's gone," he stated, addressing past concerns about Bitcoin challenging the dollar. 
He argued the U.S. sees Bitcoin as a stronger fallback than rivals like China's yuan if the dollar's dominance wanes, a shift he didn't foresee earlier. 
This policy, he said, flips the script from potential suppression to strategic embrace.
Hougan pointed to shifting investor behavior as proof, noting Bitwise clients now often allocate 3% of portfolios to Bitcoin, up from 1% two years ago when a ban loomed as a possibility. 
What&#8217;s Next: He predicts this could climb to 5% or more as the market grasps Bitcoin's reduced risk profile, bolstered by spot Bitcoin ETFs launched in January 2024 and now this reserve.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44479576/digital-chamber-urges-congress-to-act-on-blockchain-for-national-security-financial-innovation-energy-independence">Digital Chamber Urges Congress To Act On Blockchain For National Security, Financial Innovation, Energy Independence</a></li>
</ul>
Image: Shutterstock

Strategic Bitcoin Reserve Eliminates Last Threat, Says Bitwise's Matt Hougan

Rosenblatt analyst Chris Brendler maintains Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) with a Buy and maintains $305 price target.

Price Target

Rosenblatt Maintains Buy on Coinbase Global, Maintains $305 Price Target

Asset management giant BlackRock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) is deepening its presence in the digital asset space with the launch of a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/money/best-spot-bitcoin-etfs">exchange-traded product (ETP)</a> in Europe, marking its first such initiative outside the U.S.
What Happened: The new product, named iShares Bitcoin ETP, will be available on Germany's Xetra exchange, as well as Euronext's Paris and Amsterdam platforms, <a href="https://www.bloomberg.com/news/articles/2025-03-25/blackrock-debuts-bitcoin-exchange-traded-product-in-europe?embedded-checkout=true">according</a> to Bloomberg.
It will trade under the tickers IB1T and BTCN, respectively. This move follows the company's highly successful rollout of its U.S.-based iShares Bitcoin Trust, which quickly amassed tens of billions in assets since launching in January 2024.
To attract early interest, BlackRock is offering the European ETP with an initial management fee of just 0.15%, discounted from its standard 0.25% until the end of the year. 
This temporary rate positions the fund among the most competitively priced crypto investment products in the region.
Manuela Sperandeo, who oversees iShares products in Europe and the Middle East at BlackRock, noted that the timing reflects a key moment in the digital asset investment landscape.
"We're seeing a shift where professional investors are now engaging more actively alongside established retail demand," she said.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44463140/bitcoin-reserve-no-house-of-doge-just-launched-a-dogecoin-reserve-valued-1-83-million">Bitcoin Reserve? No, &#8216;House Of Doge&#8217; Just Launched A Dogecoin Reserve Valued $1.83 Million</a>
Why It Matters: While Europe has hosted crypto ETPs for some time, the overall market remains significantly smaller than its U.S. counterpart, with around $13.6 billion in assets under management across the region.
By contrast, BlackRock's U.S. Bitcoin product has rapidly become one of the most successful ETF launches in market history.
The physical Bitcoin held by the ETP will be stored by Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), which will serve as custodian.
The fund will be issued through a Swiss-based special purpose vehicle, and it is intended for both institutional participants and informed individual investors.
BlackRock's latest expansion highlights the firm's continued strategy of bringing traditional financial structures into the digital asset space, reinforcing Bitcoin's position as a mainstream investment option.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44460515/how-white-houses-april-2-tariffs-might-jolt-bitcoin-traders">How White House&#8217;s April 2 Tariffs Might Jolt Bitcoin Traders</a></li>
</ul>
Image: Shutterstock

BlackRock Expands Bitcoin ETF Offering To Europe

SEC Drops Case Against Crypto Exchange Coinbase Global

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FactSet Research Systems Inc. Common Stock

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Screenshot 2025-03-24 at 5.42.31 PM

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$BNB

$ETH

OBNB

Binance commands a stage presence in the blockchain sphere thanks to its status as the world&#39;s largest cryptocurrency exchange.

Beyond The Exchange: How BNB Chain Is Helping Reshape The Crypto Landscape

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NFLX

While Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) dominate the discourse surrounding cryptocurrencies thanks to their positioning as the top two assets by market cap, BNB (CRYPTO: 

Comments

Coinbase Global

Unusual Options Activity for

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL

Date	Put/Call	Strike Price	Exp Date	DTE	Trade Vol	Day Vol	Vol / OI	OI	Trade Type	Sentiment
09:36 AMMar 24, 2025	CALL	$7.50	Dec 19, 2025	259	50	50	3	1882	TRADE	NEUTRAL
10:46 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	825	50	91	907	TRADE	NEUTRAL
10:34 AMMar 21, 2025	PUT	$190.00	May 16, 2025	42	369	360	25	1481	TRADE	BEARISH
10:26 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	725	50	80	907	TRADE	NEUTRAL
10:24 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	675	50	74	907	TRADE	NEUTRAL
10:19 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	575	50	63	907	TRADE	BEARISH
10:08 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	450	50	50	907	TRADE	NEUTRAL
10:03 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	400	50	44	907	TRADE	NEUTRAL
09:51 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	250	50	28	907	TRADE	NEUTRAL
09:48 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	200	50	22	907	TRADE	NEUTRAL
09:44 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	150	50	17	907	TRADE	NEUTRAL
09:42 AMMar 21, 2025	CALL	$7.50	Dec 19, 2025	259	100	50	11	907	TRADE	NEUTRAL
03:58 PMMar 20, 2025	CALL	$7.50	Dec 19, 2025	259	214	100	31	700	TRADE	NEUTRAL
03:20 PMMar 20, 2025	PUT	$220.00	May 15, 2026	406	0	100	0	235	SWEEP	BULLISH
12:11 PMMar 20, 2025	PUT	$300.00	Jan 16, 2026	287	201	100	12	1653	SWEEP	BULLISH
11:20 AMMar 20, 2025	PUT	$190.00	Jul 18, 2025	105	450	450	132	341	TRADE	BULLISH
10:53 AMMar 20, 2025	PUT	$190.00	May 16, 2025	42	705	700	73	961	TRADE	BULLISH
11:41 AMMar 17, 2025	PUT	$160.00	Dec 19, 2025	259	440	212	36	1228	SWEEP	BULLISH