Coinbase is a strong stock for running the options wheel strategy because crypto volatility produces massive premiums that pay well. Sizing correctly and staying disciplined are essential. x.comÂ
Matt Giannino
Founder & CEO of Market Moves, Options-Selling Education
Coinbase stands to gain as crypto gears up for a massive move very soon, with the breakout setup looking prime. x.comÂ
Coinbase and Strategy amplify every move bitcoin and Ethereum make, making them the most asymmetric way to buy the crypto crash while the crowd sells. Their Wave 3 targets are $676 for Coinbase and $952 for Strategy. x.comÂ
Coinbase is a bubbly stock priced as a proxy for crypto trading, yet experienced crypto users leave it for better exchanges. It works for beginners, where it can take advantage of unknowledgeable investors, but more than a decade of crypto use shows Coinbase gets replaced as soon as users find something better. x.comÂ
Coinbase participated in the crypto rebound's trading activity. Its spot volume rose about 41-50% month over month to roughly $61-64 billion, overtaking Bybit for third among top-tier spot exchanges. That counters AlphaTAEdgde's claim that the rebound's volume bypassed Coinbase. x.comÂ
Heavy put bets at $170 provide a positioning basis for Coinbase's $180 target by October 23. Shares are holding above that put wall; no chase. x.comÂ
Coinbase's likeliest price path is lower as bitcoin finishes the final leg of its bear market. @BobLoukas argues Coinbase is bloated and overvalued, with horrible customer service, crypto retail activity dead, customers having other options and an underwhelming Base chain. x.comÂ
Coinbase should recover into a more diversified business when bitcoin recovers, yet it trades as if its only product broke. In nine months it added zero-commission stock trading, prediction markets at $100M annualized revenue, stock and pre-IPO perps, and derivatives at $200M annualized, and it receives about 50% of USDC economics. Bitcoin near $64K sits below its ~$87K mining cost, historically a buy signal. At 6-7x sales versus Robinhood's 18.6x, the risk/reward is favorable. x.comÂ
Crypto stocks such as Coinbase and Strategy could be the next 100x opportunity because they trade at a much lower market-cap baseline relative to bitcoin yet benefit when crypto rises, giving them larger potential gains. Coinbase looks badly beaten down, and Strategy is another prime example of a discounted stock. x.comÂ
Coinbase still has no business model in crypto bear markets, while Robinhood has become a profit-making machine. x.comÂ
Coinbase is becoming much more than a crypto exchange, with USDC, derivatives, prediction markets, tokenization and Base. The chart supports it: the stock has built a massive seven-month Stage 1 base and reclaimed its 200-day moving average, and when it gets going it tends to move hard. x.comÂ