Significant Options Trading on Wednesday: CASY, COIN, IRDM
Coinbase Options Trading: Coinbase Global Inc (COIN) experienced a significant options trading volume of 73,422 contracts, equating to about 7.3 million underlying shares, which is 73.3% of its average daily trading volume over the past month.
High Volume Call Option: The $290 strike call option for COIN, expiring on December 12, 2025, saw particularly high activity with 3,960 contracts traded, representing approximately 396,000 underlying shares.
Iridium Communications Options Trading: Iridium Communications Inc (IRDM) recorded an options trading volume of 13,327 contracts today, which corresponds to around 1.3 million underlying shares, or 69.8% of its average daily trading volume.
Notable Call Option for IRDM: The $20 strike call option for IRDM, expiring on January 16, 2026, had a notable volume of 9,063 contracts traded, representing approximately 906,300 underlying shares.
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- Cryptocurrency Market Decline: Bitcoin slid into the $68,000 region with an 11% increase in trading volume over the past 24 hours, yet the market continues to face selling pressure, indicating a bearish sentiment among investors.
- Ethereum Trading Surge: Ethereum fell below $2,000 amid an 80% spike in 24-hour trading volume, reflecting strong selling pressure that could impact its short-term price trajectory.
- Market Liquidation Overview: Approximately $325 million was liquidated from the market in the last 24 hours, with $240 million in bullish long positions wiped out, highlighting investor sensitivity to market volatility.
- Stock Futures Rise: Dow Jones Industrial Average futures rose by 37 points, or 0.07%, as consumer inflation eased to an 8-month low, suggesting a more optimistic outlook for the economy moving forward.
- Acquisition Agreement: Tri Pointe has entered into a definitive agreement with Sumitomo Forestry, which will acquire the company for $47.00 per share in cash, valuing the transaction at approximately $4.5 billion, indicating a rebound in market confidence in the real estate sector.
- Stock Price Surge: Following the acquisition announcement, Tri Pointe's stock surged by 26%, reflecting positive investor sentiment towards the deal and optimism regarding a recovery in the real estate market.
- Delivery Outlook: Tri Pointe expects to deliver between 1,200 and 1,400 homes in Q4, demonstrating stable delivery capabilities in the current market environment, which enhances its attractiveness to investors.
- Analyst Rating Adjustments: RBC Capital lowered Tri Pointe's price target from $37 to $31, yet Citizens initiated coverage with an Outperform rating, indicating divergent views on the company's future performance in the market.
- Inflation Report Impact: A cooler-than-expected inflation report resulted in flat stock performance for the day.
- Treasury Yields Reaction: The report led to lower Treasury yields as investors anticipated potential rate cuts in the coming months.
- Market Recovery: The S&P 500 index rose by 0.05%, the Dow Jones Industrial Average by 0.10%, and the Nasdaq 100 by 0.18% on Friday, indicating a recovery after early losses, reflecting cautious optimism among investors regarding future economic prospects.
- Inflation Data Impact: The U.S. January Consumer Price Index rose by 2.4% year-over-year, below the expected 2.5%, marking the smallest increase in seven months, which may prompt the Fed to continue cutting rates, thus providing support for the stock market and alleviating concerns over rate hikes.
- Strong Software Stock Performance: Software stocks like Crowdstrike Holdings and ServiceNow rose over 4% and 3%, respectively, lifting the broader market and indicating a rebound in investor confidence in tech stocks, particularly amid rapid advancements in AI technology.
- Metal Stocks Retreat: Reports of the Trump administration's plans to narrow tariffs on steel and aluminum products led to declines in metal companies, with Century Aluminum falling over 7%, reflecting the negative impact of policy changes on the sector.
- Market Outlook Analysis: According to BlockTower founder Ari Paul, crypto markets are at a critical juncture, facing two sharply different outcomes, namely a structural top and a macro-driven recovery, with current market performance showing clear rangebound and weak price action.
- Scenario Setting: In Scenario A, Paul suggests that the cycle top for crypto assets may already be in place; despite increased mainstream awareness and political support, real-world adoption remains limited, and many corporations have failed to find durable utility in crypto, which could lead to further downside risks.
- Macro-Driven Recovery: Conversely, Scenario B posits that the current downturn is a high-timeframe correction within a broader macro-driven uptrend, where Bitcoin and other crypto assets continue to attract speculative capital despite late-stage capitalism and declining trust in fiat systems, with ongoing development activity.
- Investment Strategy and Risks: Paul advocates for a moderate crypto allocation, while warning of potential deeper crashes to $15,000–$40,000, especially if prices stagnate, which could put significant pressure on companies like Coinbase that rely on speculative inflows and transaction-driven revenue models.









