Higher Prices, Demand Drive Coca-Cola's Revenue Win

Short- and long-term options traders are bullish on KO

Fernanda Horner

Digital Content Manager

Feb 13, 2024 at 10:24 AM

Dow member Coca-Cola Co's (NYSE:KO) fourth-quarter earnings came in line with estimates, while revenue beat expectations amid higher prices and strong demand. The shares are up 1.2% at $60.41 at last check, with support from the 60-day moving average in place after a rally earlier this month lost steam at the $61 level. Coca-Cola stock shed 5.9% in the last nine months, but sports a small year-to-date lead.

Call volume is today running at 11 times the intraday average, with 27,000 calls traded so far, compared to just 5,138 puts. New positions are opening at the most popular contract -- the February 61 call.

Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 50-day call/put volume ratio of 3.37 sits higher than 94% of readings from the last year. This means calls have been getting picked up at a quicker-than-usual clip in the last 10 weeks.

Echoing this, short-term options traders have been much more bullish than usual. This is per Coca-Cola stock's Schaeffer's put/call open interest ratio (SOIR) that sits higher than just 11% of annual readings.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!