Options bears are eyeing the beverage giant after a lackluster revenue forecast
Coca-Cola Co (NYSE:KO) is sitting out the Dow rally today, after the company reported a fourth-quarter revenue of $11.82 billion, below the $12.03 billion estimates. While adjusted earnings of 58 cents per share topped the 56 cent estimates, the beverage company also forecast modest revenue growth for 2026 amid demand concerns. In response, KO was last seen down 1.3% to trade at $76.97.
KO is extending a pullback from a Friday record high of $79.20, which came at the end of a seven-day win streak. All notable short- and long-term moving averages linger below as potential support, and longer term Coca-Cola stock sports an 18.6% lead, with a 9.8% gain amassed so far in 2026.
Despite this recent outperformance, short-term options traders lean bearish. This is per KO'S Schaeffer's put/call open interest ratio (SOIR) of 0.77 that sits in the 94th percentile of annual readings.
So far today, 27,000 calls and 17,000 puts have already exchanged hands , which is double the intraday average volume. The most popular contract by far is the weekly 2/13 74-strike put, where new positions are being opened.