Stocks quoted in this article:
Coca-Cola (KO – 52) is up over two percent this morning despite stock market strategist Christopher Wolfe saying that he suspects more downbeat disclosures for third-quarter earnings. Despite today's advance, KO is still in the midst of a near-term slump, losing 19 percent of its value since logging a near-term intraday high on August 1. The shares' 10-day moving average has provided stingy resistance during most of this weakness.
On the options front last Friday, open interest on the in-the-money October 50 call rose from roughly 500 contracts to 1,509 contracts. In KO's options pit so far today, the out-of-the-money October 45 put, which has open interest of 747 contracts, is leading the way on volume of 720 contracts.