Traders expect Coca-Cola to end its current slide
Traders are betting Thursday that The Coca-Cola Company (KO) will find support and start to erase some recent losses. The stock has traded lower in sympathy to the overall market after hitting an all-time high in the latter part of November. So far, 30,089 contracts of the March 48 call have changed hands, against open interest of just 23 contracts.
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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.