Trade of the Week: COIN | Investors Alley

Trade of the Week: COIN

November 15, 2022 6:37 am by Jay Soloff

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The collapse in cryptocurrencies (brought about by the insolvency of FTX) spilled over into equities markets last week. Bears are betting that Coinbase (COIN) is going to succumb to the downside pressure as well. While the FTX news was being digested by the market, traders purchased a large amount of puts in COIN, possibly expecting the popular crypto exchange to drop to new lows.

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