COIN options strategies, priced on the real chain
A crypto proxy with equity-market hours. IV in the 60s–90s is routine, the chain is liquid enough for spreads, and the overnight gap risk is real because the underlying asset trades while the options market is closed.
Every page below prices its structure against the August 28, 2026 expiry — 73% at-the-money implied vol, #3 of the 20 underlyings on this site. What moves COIN: bitcoin's tape, exchange-volume datapoints, and regulatory headlines.
The August 28, 2026expiry this analysis was built on has passed, so the contracts quoted below no longer trade. The structure and the strike-selection logic still hold; the prices do not. Open the builder for today’s strikes on the real chain.
10 strategies on COIN
One contract (or one 100-share lot) per structure, at-the-money template strikes on the August 28, 2026expiry. Breakevens and probability of profit come from OptionTracker’s engine.
Start here
- COIN covered callSell upside on shares you already own and get paid for the cap. · breakeven $140.82 (−3.7%)
- COIN cash-secured putGet paid to place a limit order below the market. · breakeven $129.5 (−11.5%)
- COIN iron condorSell a range, buy the wings, collect if the stock stays put. · breakeven $118.78 (−18.8%)
- COIN bull call spreadBuy a call, sell a higher one — cheaper upside with a ceiling. · breakeven $149.64 (+2.3%)
- COIN bull put spreadSell a put spread below the market: credit now, defined risk. · breakeven $131.98 (−9.8%)
- COIN long straddleBuy the call and the put — pay for a move in either direction. · breakeven $126.15 (−13.7%)
Related reading
- Covered call assignment: getting called awayGetting called away is not a glitch. You sold 100 shares at the strike the day you wrote the call. Here is that sale on a real AAPL chain, with the premium still attached.
- Early assignment and the ex-dividend dateEx-dividend week, short calls, panic. On a real KO chain the remaining extrinsic is larger than the dividend the engine implies over the whole window. Here is that comparison, and when early assignment actually shows up.
- Covered call vs selling the shares: real mathEvery covered-call seller has been asked why they don't just sell the stock. Fair question. One ticker, one chain, both exits priced — including the Friday the call does exactly what you sold it to do.