Coca-Cola Stock Hits Record High Ahead of Earnings

The beverage giant reports earnings before the open on Thursday, Feb. 10

Deputy Editor
Feb 8, 2022 at 12:12 PM
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Blue-chip Coca-Cola Co (NYSE:KO) is up 0.7% to trade at $62.03, pacing for a record close after earlier hitting an all-time high of $62.20. This positive price action comes just ahead of the beverage giant's fourth-quarter earnings report, which is due out before the open on Thursday, Feb. 10. Below, we'll take a look at Coca-Cola stock's technical setup, and dig into its past post-earnings performances.

KO kicked off 2022 on a high note, scoring a then all-time high close of $59.31 on the first day of trading in the new year. It's only gotten better since, with pullbacks caught by the shares' ascending 40-day moving average along the way. Longer-term, Coca-Cola stock boasts a 24.4% year-over-year lead.

KO Chart Feb 8

For the stock's earnings history, KO has closed higher the day after the company reported earnings in six of the past eight quarters, including its last three-consecutive reports. Over the past two years, shares have swung an average of 1.7% the day after earnings, regardless of direction. This time around, the options market is pricing in a  higher-than-usual swing of 4.3%,

Pessimism is growing in the options pits, where puts are popular. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Coca-Cola stock sports a 50-day put/call volume ratio that stands higher than 100% of readings from the past year. This means puts have never been picked up at a faster pace than they have during the last 10 weeks. 

 

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