Calls buyers thirsty for Coca-Cola
Option buyers are enjoying Coca-Cola (KO) Monday. So far, 7,930 contracts of the Nov. 47.50 call have changed hands, against open interest of 651 contracts. Today’s volume has been predominantly in the high half of the bid-ask spread, indicating that these new contracts are being bought to open.
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About Coca-Cola Company (The)
The Coca-Cola Company is the largest nonalcoholic beverage company in the world, with over $30 billion in annual revenue. Its portfolio includes a variety of carbonated and noncarbonated brands, including Coca-Cola, Diet Coke, Fanta, Sprite, Minute Maid, Powerade, and Dasani. The firm has both concentrate and finished product operations, with concentrate sales contributing nearly two thirds of revenue. Trademark Coca-Cola contributes 45% of unit case volumes worldwide. Coca-Cola generates the majority of its revenue outside of the United States. The acquisition of Costa, closed in January 2019, should bolster its presence in the coffee category, particularly in the U.K., where Costa has more than a one third share of coffeehouses.