After its listing on Apr. 14, Coinbase's (NASDAQ:) stock has been trading between $310 and $430.

The second-largest stock exchange in the world is set to offer Coinbase stock options beginning on Tuesday.

Coinbase Options: Max Pain, Max Gain

A representative confirmed to Reuters that the exchange would start offering call and put options on the price of the Coinbase stock.

These options offer the right to buy or sell a certain stock at a set date for a set price. These options are notoriously riskier than simply holding the stock, but they can also become extremely profitable.

These instruments allow traders to speculate that the price will increase (call option) or decrease to a certain level (put option). Buying put options is often referred to as shorting, a term that has increasingly made headlines following the GameStop (NYSE:) saga.

Binance has also recently announced they would offer COIN trading to their users.

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