Deep-pocketed investors have adopted a bullish approach towards Coca-Cola KO, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in KO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Coca-Cola. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $255,362, and 7 are calls, amounting to $825,816.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $62.5 for Coca-Cola over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Coca-Cola's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Coca-Cola's whale trades within a strike price range from $40.0 to $62.5 in the last 30 days.
Coca-Cola 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| KO | CALL | TRADE | BEARISH | 04/19/24 | $60.00 | $217.6K | 3.5K | 1.6K |
| KO | PUT | SWEEP | BEARISH | 03/01/24 | $61.00 | $202.4K | 3.1K | 3.6K |
| KO | CALL | SWEEP | BEARISH | 01/17/25 | $55.00 | $165.0K | 2.1K | 224 |
| KO | CALL | SWEEP | BULLISH | 06/21/24 | $40.00 | $161.0K | 56 | 78 |
| KO | CALL | SWEEP | BEARISH | 01/17/25 | $55.00 | $138.3K | 2.1K | 411 |
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 revenues 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
Present Market Standing of Coca-Cola
- Trading volume stands at 3,896,257, with KO's price down by -0.23%, positioned at $60.57.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 55 days.
What Analysts Are Saying About Coca-Cola
In the last month, 1 experts released ratings on this stock with an average target price of $66.0.
- An analyst from JP Morgan persists with their Overweight rating on Coca-Cola, maintaining a target price of $66.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Coca-Cola, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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