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 8 uncommon options trades for Coca-Cola.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $185,644, and 5 are calls, for a total amount of $190,581.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $66.0 for Coca-Cola over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Coca-Cola stands at 9723.67, with a total volume reaching 2,431.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coca-Cola, situated within the strike price corridor from $60.0 to $66.0, throughout the last 30 days.
Coca-Cola Call and Put Volume: 30-Day Overview
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 | BULLISH | 01/17/25 | $0.92 | $0.87 | $0.89 | $60.00 | $89.0K | 7.6K | 0 |
| KO | CALL | SWEEP | BEARISH | 08/16/24 | $1.48 | $1.45 | $1.45 | $65.00 | $67.7K | 27.7K | 613 |
| KO | PUT | SWEEP | BEARISH | 07/26/24 | $1.1 | $1.07 | $1.1 | $66.00 | $50.0K | 399 | 1.2K |
| KO | PUT | SWEEP | BEARISH | 07/26/24 | $1.1 | $1.08 | $1.1 | $66.00 | $46.6K | 399 | 184 |
| KO | CALL | SWEEP | BULLISH | 08/16/24 | $1.38 | $1.35 | $1.38 | $65.00 | $36.8K | 27.7K | 44 |
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
- Trading volume stands at 9,366,215, with KO's price up by 0.01%, positioned at $65.19.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 4 days.
Professional Analyst Ratings for Coca-Cola
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $71.33333333333333.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Coca-Cola with a target price of $70.
- An analyst from Exane BNP Paribas has revised its rating downward to Outperform, adjusting the price target to $72.
- An analyst from JP Morgan persists with their Overweight rating on Coca-Cola, maintaining a target price of $72.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Coca-Cola options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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