On February 5, Eastern Time, Coinbase options saw a total of 738268 contracts traded, with calls accounting for 28% and puts making up 71%.
Coinbase has 1207731 contracts outstanding, with calls accounting for 58% and puts making up 41%.
The top volume gainer was the 160 dollars Call option expiring on February 6, 2026, with 25804 contracts traded.
On the news front, Recent key news:

1. Feb 6, Bitcoin's sharp decline led to a broader market sell-off, impacting crypto-linked stocks like Coinbase, which fell approximately 9%. This was due to a long liquidation wave and declining liquidity. Source: MarketWatch

2. Feb 5, Bitcoin's continued freefall and the nomination of Kevin Warsh by President Trump contributed to the sell-off in crypto markets, affecting Coinbase's stock. Source: MarketWatch

3. Feb 4, Michael Burry's comments on Bitcoin's lack of an organic use case added to the bearish sentiment, causing further declines in crypto-exposed stocks like Coinbase. Source: WSJCrypto market under pressure; liquidity concerns.
Please note: The chart below does not include options expiring within five days.
<img src="https://assets.lbctrl.com/h5hub/optrank/images/2026-02-06/ST_US_COIN_en.png" alt="image" original-src="https://assets.lbctrl.com/h5hub/optrank/images/2026-02-06/ST_US_COIN_en.png"/>

COIN

CONL

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On February 5, Eastern Time, Coinbase options saw a total of 738268 contracts traded, with calls accounting for 28% and puts making up 71%.

- On February 5, total trading volume for COIN options reached 738,268 contracts, with calls making up 28% and puts 71%.  
- The crypto market is facing significant pressure, highlighted by Bitcoin's drop below $70,000, impacting Coinbase's stock and fueled by a wave of speculative selling.  
- Upcoming expirations exceed $2.5 billion in crypto options, intensifying bearish sentiment towards Bitcoin amid market volatility, as analysts note contributing factors including hawkish Federal Reserve signals and decreased institutional liquidity.

Trending | COIN Plummets 13% on Thursday, Some Put options Soar 2354%