Benzinga | Jan 4, 2022 11:07AM EST

This Is What Whales Are Betting On Coca-Cola

Someone with a lot of money to spend has taken a bullish stance on Coca-Cola (NYSE:KO).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with KO, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 12 options trades for Coca-Cola.

This isn't normal.

The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $25,488, and 11, calls, for a total amount of $1,296,188..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $60.0 for Coca-Cola over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Coca-Cola options trades today is 7567.9 with a total volume of 4,045.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Coca-Cola's big money trades within a strike price range of $45.0 to $60.0 over the last 30 days.

Coca-Cola Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestKO CALL TRADE BEARISH 01/19/ $47.50 $485.5K 2.3K 358 24KO CALL TRADE BULLISH 01/20/ $50.00 $260.7K 3.8K 0 23KO CALL TRADE BEARISH 01/19/ $50.00 $246.2K 1.3K 131 24KO CALL TRADE BULLISH 01/20/ $45.00 $52.0K 3.4K 1 23KO CALL TRADE BULLISH 02/18/ $55.00 $52.0K 9.5K 111 22

Where Is Coca-Cola Standing Right Now?

* With a volume of 7,236,050, the price of KO is up 1.5% at $60.19.

* RSI indicators hint that the underlying stock may be overbought.

* Next earnings are expected to be released in 36 days.

What The Experts Say On Coca-Cola:

* JP Morgan upgraded its action to Overweight with a price target of $63

* Guggenheim upgraded its action to Buy with a price target of $66

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.