Requisite Capital Management’s Bryn Talkington owns Coinbase Global Inc (NASDAQ:COIN) stock and would buy it at its current level, she said Monday on CNBC’s “Fast Money Halftime Report.”
The company recently announced plans to add $500 million in cryptocurrency to its balance sheet, Talkington said.
Going forward, Coinbase said it will put 10% of its profits into crypto per quarter, which would be about $160 million per quarter based on its most recent quarterly results, she added: “I think it’s a great stock to own.”
See Also: What 18 Analyst Ratings Have To Say About Coinbase Global
For investors buying the stock at current levels, Talkington recommends selling the $290 strike January expiration calls against the position.
“You can bring in about $23 of premium while you’re waiting because it is a volatile name.”
COIN Price Action: Coinbase has traded as high as $429.54 and as low as $208 since it went public on April 14.
At last check Monday, the stock was flat at $257.29.
Photo: courtesy of Coinbase.
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