“`html
Coinbase (COIN), the largest U.S. cryptocurrency exchange, reported third-quarter earnings of $1.44 per share, exceeding estimates by nearly 40%. The company’s revenues reached $1.87 billion, beating projections by 7.1%. Revenue from transactions increased to $1 billion, marking a 37% rise from the previous quarter.
As of the report date, Coinbase’s stock was trading at $352.60. The current trading strategy involves a call option spread that includes purchasing a December 300-strike call and selling a December 320-strike call. This strategy requires a total cost of $1,370 per spread, yet remains potentially profitable even if COIN decreases in value, producing returns of up to 46% under various scenarios.
“`
