The Actual Recommended
Coinbase Global Weekly Options Trade.....
** OPTION TRADE: Buy COIN SEP
10 2021 260.000 CALLS at approximately $8.00.
(Actually bought for $5.79)
NOTE: The actual entry and
exit prices will vary among individual traders – this will depend on their risk
tolerance and exit strategy. The lowest price of the recommendation at the beginning
of the day was $5.79; and the exit on Friday, September 03, was the highest for
Coinbase Global Weekly Options Trade
On Thursday, August 26, 2021, “Weekly Options Members,” entered the Coinbase
Global Weekly Options trade
mentioned above for $5.79 shortly after the market opened – 9:37am.
On Friday, September 03,
2021, at 3:00pm (approx.) the price of the option hit $21.00 – up 258%.
It is very likely that a new
Coinbase Global Weekly
Options trade, moving forward, will be also successful.
Join us and see
what we are proposing!
The Original Major
Catalysts for the Coinbase Global Weekly
Report August 09, 2021.....
Global last announced its earnings results on August 9th, 2021.
In its first
earnings report as a public company, Coinbase blew away second-quarter
cryptocurrency exchange reported $6.42 earnings per share (EPS) for the
quarter, beating analysts' consensus estimates of $2.26 by $4.16.
had revenue of $2.03 billion for the quarter, compared to analysts'
expectations of $1.83 billion. Its revenue was up 1040.2% on a year-over-year
monthly transacting users jump to 8.8 million, up 44% from the first quarter.
Trading volume increased to $462 billion from $335 billion.
While the company
didn't provide guidance, it did project lower monthly transacting users and
lower trading volumes during the third quarter.
includes it releasing several yield-bearing products, and is expected to
continue offering new assets for staking. This practice is described on
Coinbase’s website as “a way of earning rewards for holding certain
cryptocurrencies.” Quarter-over-quarter by its Q2 earnings release, staking
revenues had increased 271%.
The growth of Coinbase’s
staking business allows people to earn yield on their crypto assets. This part
of the business grew sharply in the second quarter and there appears to be more
expansion ahead as the company adds more staking assets and other yield-bearing
COIN’s opportunities in
staking, custody, and interest-bearing accounts will accelerate its positioning
as a one-stop shop for crypto financial services.
relatively high fees COIN charges per transaction have not appeared to scare
away its user base. Users seemingly place more priority on the quality of the
platform, as well as the ability to trade a variety and availability of
fees don’t seem to be a concern because the non-commoditized nature of crypto
exchanges differentiates them from traditional brokerage firms, where fee
compression has occurred in recent years.
investors and retail traders seem most focused on factors like the availability
of tokens, the reliability of a platform, and liquidity when determining where
to conduct crypto activities.
The price of
Bitcoin (BTCUSD) advanced beyond the $50,000 milestone on Aug. 22, 2021—the
first time it has traded above this level since mid-May.
factors that may be fueling bullish sentiment about Bitcoin and other
cryptocurrencies such as Ethereum (ETHUSD) and Dogecoin (DOGEUSD) are
supportive remarks by Elon Musk, CEO of advanced electric carmaker Tesla, Inc.
(TSLA), and expectations that the U.S. Federal Reserve may continue to strike a
dovish stance that will keep interest rates low, thus reducing the comparative
appeal of other financial assets. Musk has indicated that he holds Bitcoin,
Ethereum, and Dogecoin.
5. Mining and Processing Rebound.....
are that the mining and processing of Bitcoin has rebounded from a low in July,
when the Chinese government announced a crackdown. This is significant since
roughly 65% of Bitcoin mining takes place in China.
the rebound in the prices of Bitcoin and other cryptocurrencies is the growing
mainstream acceptance among banks and brokerage firms.
leading companies outside the financial sector—most notably Amazon.com, Inc.
(AMZN) and Walmart Inc. (WMT)—have recently posted job advertisements related
to the development of strategies concerning digital currencies. Online
marketplace PayPal Holdings, Inc. (PYPL) has announced that it is moving toward
allowing Bitcoin and other digital currencies as a form of payment.
6. Launching a Crypto Exchange Business in Japan.....
announced last week it is launching a crypto exchange business in Japan, in
partnership with Mitsubishi UFJ Financial Group.
partnership allows users to deposit money through MUFG Quick Deposit to
purchase crypto. Quick Deposit allows users to make yen deposits 24 hours a
day/365 days a year through internet banking, convenience stores and ATMs.
will initially launch retail products such as a suite of five top assets based
on trading volume. Down the line, the exchange will add new products including
more localized versions of advanced trading and Coinbase for institutions, he
only the first stop in Coinbase's international expansion strategy and Germany
will likely be next.
obtained a crypto license in Germany and its subsidiary was awarded a crypto
custody and trading license from the German Federal Financial Authority.
international expansion strategy presents a meaningful opportunity and upside
to the stock if it goes well.
Coinbase announced the board had approved the purchase of $500 million in
cryptocurrencies to be added to the balance sheet. Bitcoin will take its place
among other crypto investments such as Ethereum, Proof of Stake assets, DeFi
tokens and other cryptocurrencies. That’s not where it ends, though. The
company also said it intends to build a crypto assets portfolio, allocating 10%
of its quarterly profits to the endeavor.
expects to further integrate crypto into its day-to-day activities.
Oppenheimer’s Owen Lau notes this could eventually mean paying its vendors and
employees in digital assets, among other “financial
transactions.” It is this aspect which Lau thinks investors should really
take note of.
crypto on the balance sheet is definitely a testament, but further integration
of digital assets into COIN's corporate practice has a deeper influence not
just on COIN but on the whole cryptoeconomy,” the analyst said. “COIN is in a good position to introduce new
products (e.g., credit/debit cards) to support retail transactions in crypto
and to influence crypto adoption in institutional transactions.”
reiterated an Outperform (i.e. Buy) rating on COIN shares, whilst sticking with
a $444 price target.
vice president of crypto asset and blockchain research at Needham & Co.,
initiated coverage of Nasdaq-listed Coinbase (COIN) with a “Buy” rating,
setting a $420 price target based on opportunities beyond exchange services.
a market-leading crypto exchange with “significant
future opportunities beyond exchange service, which include staking, custody,
yield bearing products, and more,” Todaro wrote in a note.
firm projects a 467% increase in 2021 revenue and a 9% increase in 2022.
“We view COIN as the leading, fiat-crypto
on-ramp, and expect the company's exchange business to grow rapidly and
sustainably as new investors adopt its crypto assets and services,” Todaro wrote. “COIN ranks as the largest crypto exchange by trading volume.”
opportunities in staking, custody and interest-bearing accounts will accelerate
its position as a one-stop shop for crypto financial services, according to the
concerns over fees are misplaced, according to the note. The non-commoditized
nature of crypto exchanges differentiates them from traditional brokerage
firms, where fee compression has occurred in recent years.
"The Coinbase IPO is
potentially a watershed event for the crypto industry and will be something the
Street will be laser-focused on to gauge investor appetite," Wedbush analyst Dan Ives wrote in a
note to clients. "Coinbase is a
foundational piece of the crypto ecosystem and is a barometer for the growing
mainstream adoption of Bitcoin and crypto for the coming years."
A number of other brokerages have
recently commented on PLTR......
- On April 22,
Mizuho analyst Dan Dolev initiated coverage on the stock with a neutral rating
and a $285 price target. "Over time,
Coinbase pricing — and industry pricing in general — may face downward pressure
from platforms like PayPal and Cash App," Dolev commented. "This is because PayPal and Cash App
primarily use their crypto trading products as engagement tools, whereas
Coinbase relies on its crypto trading products as its main source of revenue
- On May 24,
Goldman Sachs initiated coverage with a buy rating and a $306 price target.
Goldman analyst Will Nance said in a note to clients that Coinbase is the best
way to gain exposure to cryptocurrency ecosystems.
- On May 25,
JPMorgan initiated coverage on Coinbase with an overweight rating and a 371
price target. In response, Coinbase stock surged 7.6%.
- On June 16,
Canaccord Genuity started the stock with a buy rating and a 285 price target.
Summary.....Coinbase has done a good job of offering new assets and new products in
a regulatory compliant manner, maintaining uptime, offering deep liquidity
pools, and ensuring exchange reliability, as evidenced by the lack of a
successful exchange hack.
With an increasing serviceable addressable market and continued crypto
adoption, Coinbase is well-positioned to become an enabler of crypto