Deep-pocketed investors have been taking a bearish turn on Coca-Cola KO.
And it’s a signal for retail traders to take heed.
Today’s unusual activity popped up on our radar through publicly available options data, hinting at possible insider knowledge.
Discerning whether these whales are institutional players or wealthy individuals is a mystery, but when big money moves in the world of KO, it usually heralds something significant.
So, what exactly have these high rollers done?
Recently, a scan conducted by Benzinga uncovered 10 uncommon options trades concerning Coca-Cola.
This is anything but business as usual.
The collective sentiment among these major investors leans towards a 50% bearish stance and a mere 20% bullish outlook.
Out of the specially detected options, there are 5 puts amounting to $318,061 and 5 calls tallying up to $168,302.
Reading Between the Lines: Predictions and Interpretations
Factoring in the Volume and Open Interest on these contracts, it indicates that whales have set their sights on a price span ranging from $52.5 to $70.0 for Coca-Cola over the past quarter.
Decoding Volume and Open Interest Insights
Exploring the volume and open interest data offers invaluable clues for stock analysis. This data is instrumental in gauging liquidity and interest levels on Coca-Cola’s options at specific strike prices. Here’s a snapshot of volume and open interest patterns for calls and puts within the $52.5 to $70.0 strike price range for Coca-Cola’s significant trades over the past month.
Visual Representation of Options Movement
Spotlight on Noteworthy Options Activities
| 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 |
Introducing Coca-Cola: A Snapshot of Legacy and Global Impact
Established in 1886 and headquartered in Atlanta, Coca-Cola stands proud as the largest nonalcoholic beverage company globally, boasting a robust brand portfolio spanning 200 labels and encompassing core categories like soft drinks, water, sports drinks, energy beverages, juices, and coffee. Collaborating with bottlers and distribution partners, the company retails its finished drink products featuring Coca-Cola and affiliated brands through various outlets in over 200 countries and territories worldwide. Coca-Cola garners a substantial chunk of its revenue from foreign markets, notably emerging economies across Latin America and Asia-Pacific.
Milestones and Movements in Coca-Cola’s Current Landscape
- Traded at a volume of 13,317,693 shares, Coca-Cola’s price has experienced a 1.48% surge, now standing at $67.05.
- Indicators from the Relative Strength Index suggest a probable state of overbought conditions for the stock.
- The eagerly awaited earnings report is slated for release in 88 days.
Insightful Analyst Perspectives on Coca-Cola
A panel of 5 seasoned analysts has recently shared their thoughts on Coca-Cola stock, presenting an average price target of $72.0.
- JP Morgan’s analyst stands by their Overweight rating on Coca-Cola, setting a price target of $72.
- Citigroup’s analyst maintains a Buy rating for Coca-Cola, aiming for a price of $75.
- Barclays’ analyst continues to advocate for an Overweight rating on Coca-Cola, backing it up with a target price of $70.
- Wells Fargo’s analyst reaffirms their Overweight rating on Coca-Cola, with a corresponding price target of $73.
- TD Cowen’s analyst retains a Hold rating for Coca-Cola, targeting a price of $70.
Engaging in options trading comes with heightened risks but also presents opportunities for increased gains. Astute traders navigate these hazards through ongoing learning, strategic adaptations, utilizing diverse indicators, and staying attuned to market shifts. Keep abreast of the latest options activities in Coca-Cola with Benzinga Pro for real-time notifications.
