Unusual Options Activity: Traders bet The Coca-Cola Company (KO) Has Over 7 Percent Upside Potential
Traders are betting Tuesday that The Coca-Cola Company (KO) will trend higher over the summer months. So far today, 14,848 contracts of the November 50 call have changed hands, against open interest of just 30 contracts. KO would need to rise 7.6% to trade above $50 from its current level.
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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.