How Subscribers Tripled Their Money with This Crypto Stock

This well-timed call trade on Coinbase doubled in under a month

Managing Editor
Nov 27, 2023 at 12:46 PM
facebook X logo linkedin

Subscribers to Schaeffer's Weekly Options Trader service recently scored a net profit of 267% with Coinbase Global Inc (NASDAQ:COIN) weekly 11/24 83-strike calls. We're going to take a look back to see why we were initially bullish on the Bitcoin (BTC) adjacent stock when we recommended the call, and how the options trade unfolded.

When we entered our bullish COIN position on Nov. 7, the company was fresh off an upbeat Nov. 3 post-earnings reaction of 1.4%. On the charts, the shares had put $77 firmly in the rear-view mirror after a volatile sideways pattern in September and October. This level was cleared back in March, but then Securities and Exchanges Commission (SEC) lawsuit threats foiled any additional breakout.

The stock had also cleared $85 and its 80-day moving average, both of which had been resistance several times already in 2023. Short sellers were in covering mode, yet with a healthy 12% of COIN's total available float sold short, there was still ample room for an unwinding of bearish bets. 

Options were affordably priced amid a post-earnings volatility crush. The stock's Schaeffer's Volatility Index (SVI) stood higher than just 9% of all other readings in its annual range, implying that options players are pricing in relatively low volatility expectations at the moment.

After a 5.1% bull gap on Nov. 9, we closed half of the Coinbase call position just a few days after entry to lock in a rapid-fire 100% profit. As BTC continued its rapid ascent, we subsequently closed the final half on Nov. 22 for a bottom-line profit of 267%, allowing options traders to more than triple their money.

COIN Postmortem November 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI