Smart Money Is Betting Big In Coca-Cola Options
Portfolio Pulse from Benzinga Insights
Smart money investors have shown a bullish stance on Coca-Cola (NYSE:KO), with a significant amount of money moving into options. Benzinga's options scanner revealed 9 trades, indicating a split sentiment but leaning towards bullish with 66%. The trades suggest a price target range of $50.0 to $60.0 for KO. Notable options activity includes both bullish and bearish sentiments on calls with expiration dates in 2024. Coca-Cola, a global leader in nonalcoholic beverages, is approaching its earnings announcement with its stock price slightly up and an analyst from Barclays maintaining an Overweight rating with a target price of $68.
April 15, 2024 | 7:31 pm
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Significant options trading activity in Coca-Cola suggests bullish sentiment among smart money investors, with a price target range of $50-$60 and an analyst target of $68. The company is nearing its earnings announcement, which could influence stock movement.
The bullish sentiment from smart money investors, combined with the upcoming earnings announcement and the Overweight rating from Barclays, suggests a positive short-term outlook for Coca-Cola's stock. The significant options activity, especially the bullish trades, indicates expectations of stock price movement within the $50-$60 range, aligning with the analyst's target of $68. This analysis is based on the observed options trading patterns and the company's market standing.
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IMPORTANCE 90
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