The second-largest exchange in the world, NASDAQ has announced that options contracts for Coinbase stock will be listed today, April 20th, 2021, per a Reuters report.
On Monday, April 19, 2021, a representative of NASDAQ told the leading media house that the contract option for COIN will be listed on the exchange the following day.
Coinbase Gets Listed on NASDAQ
Coinbase went public on the 14th of April this year. This made Coinbase the first crypto trading company to be listed on a U.S exchange.
The Coinbase stock, also known as COIN had an opening price of $381. The volatility of COIN has been relatively high in the past few days. It has been ranging between $310 and $340.
The options contract allows stock traders to buy and sell a particular stock at a specific price and at an agreed date. Traders on the contract option can either open a “calls” or “puts” position.
The “calls” position implies that the trader predicts a rise in the price of the stock. The “puts” position on the other hand implies that the trader predicts a drop in the price of the stock.
Options Trading Becomes More Popular Than Ever Before
In recent times, options trading has become more popular and the coronavirus pandemic definitely contributed to this.
Today, more platforms like the Robinhood app are now available for trading the stock market and utilizing the options feature. Benefiting from the stock market is no longer restricted to large institutions and extremely rich individuals like it used to be in the past.