Investors with a lot of money to spend have taken a bearish stance on Coca-Cola KO.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with KO, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Coca-Cola.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 50%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $318,061, and 5 are calls, for a total amount of $168,302.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $52.5 to $70.0 for Coca-Cola over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Coca-Cola's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Coca-Cola's significant trades, within a strike price range of $52.5 to $70.0, over the past month.
Coca-Cola Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KO | PUT | TRADE | BEARISH | 07/26/24 | $2.25 | $1.99 | $2.19 | $69.00 | $109.5K | 8 | 500 |
| KO | PUT | SWEEP | BEARISH | 08/16/24 | $0.24 | $0.23 | $0.24 | $65.00 | $65.9K | 5.5K | 3.7K |
| KO | PUT | TRADE | BEARISH | 07/26/24 | $2.11 | $2.01 | $2.08 | $69.00 | $62.4K | 8 | 500 |
| KO | CALL | SWEEP | BEARISH | 01/17/25 | $4.35 | $4.25 | $4.25 | $65.00 | $44.2K | 10.0K | 285 |
| KO | PUT | TRADE | BULLISH | 07/26/24 | $2.14 | $2.05 | $2.07 | $69.00 | $41.3K | 8 | 1.5K |
About Coca-Cola
Founded in 1886, Atlanta-headquartered Coca-Cola is the world's largest nonalcoholic beverage company, with a strong portfolio of 200 brands covering key categories including carbonated soft drinks, water, sports, energy, juice, and coffee. Together with bottlers and distribution partners, the company sells finished beverage products bearing Coca-Cola and licensed brands through retailers and food-service locations in more than 200 countries and regions globally. Coca-Cola generates around two thirds of its total revenue overseas, with a significant portion from emerging economies in Latin America and Asia-Pacific.
Having examined the options trading patterns of Coca-Cola, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Coca-Cola's Current Market Status
- Currently trading with a volume of 13,317,693, the KO's price is up by 1.48%, now at $67.05.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 88 days.
What The Experts Say On Coca-Cola
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $72.0.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Coca-Cola, which currently sits at a price target of $72.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Coca-Cola, targeting a price of $75.
- An analyst from Barclays persists with their Overweight rating on Coca-Cola, maintaining a target price of $70.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Coca-Cola, which currently sits at a price target of $73.
- Maintaining their stance, an analyst from TD Cowen continues to hold a Hold rating for Coca-Cola, targeting a price of $70.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coca-Cola with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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