Decoding Coca-Cola's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish 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 9 uncommon options trades for Coca-Cola.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $359,622, and 2 are calls, for a total amount of $102,300.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $70.0 for Coca-Cola, spanning the last three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Coca-Cola options trades today is 2571.4 with a total volume of 9,862.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Coca-Cola's big money trades within a strike price range of $65.0 to $70.0 over the last 30 days.

Coca-Cola 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

In light of the recent options history for Coca-Cola, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Coca-Cola's Current Market Status

• Trading volume stands at 930,527, with KO's price down by -1.35%, positioned at $70.08.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 48 days.

What Analysts Are Saying About 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 $77.2.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Coca-Cola with a target price of $75. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Coca-Cola, which currently sits at a price target of $78. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Coca-Cola, targeting a price of $75. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Coca-Cola with a target price of $80. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Coca-Cola with a target price of $78.

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.