Coca-Cola Sees Unusual Options Activity With $1.66M in Total Premium as Stock Trades Near 52-Week Highs

By TrendSpider Editor

Unusual options activity is flashing across Coca-Cola Company (KO) today, with five notable contracts drawing attention and generating a combined $1,662,212.60 in total premium. KO shares are up 0.31% on the session, currently trading at $86.82, which places the stock firmly in the upper half of its

Coca-Cola Sees Unusual Options Activity With $1.66M in Total Premium as Stock Trades Near 52-Week Highs

Unusual options activity is flashing across Coca-Cola Company (KO) today, with five notable contracts drawing attention and generating a combined $1,662,212.60 in total premium. KO shares are up 0.31% on the session, currently trading at $86.82, which places the stock firmly in the upper half of its 52-week range of $65.35 to $90.92. The dominant flow is bullish, with call contracts accounting for the largest individual premium prints and traders positioning for further upside through November 2026.

Key Drivers of the KO Stock Move

• Main Catalyst: Five unusual options contracts hit the tape on KO today, totaling $1,662,212.60 in premium. The single largest print is a call at the $90 strike expiring November 20, 2026, with a size of 2,900 contracts, open interest of 129%, and a premium of $812,290. That contract alone accounts for nearly half of the total unusual options premium captured today.
• Bull Case: The two call contracts dominate the flow in both size and dollar value. The $85 call expiring August 21, 2026 is already in the money with a size of 2,373 and a $609,861 premium, while the $90 November call represents a clear bet that KO can push toward and potentially through its 52-week high of $90.92 over the next three and a half months. A separate $95 call expiring September 18, 2026 adds directional conviction, even at a smaller $47,946.60 premium.
• Bear Case: The put side of the ledger is not silent. A $87 put expiring August 14, 2026 carries a striking open interest percentage of 242% on a size of 758 contracts, suggesting that contract has attracted meaningfully more activity than existing open interest would suggest. A second $87 put expiring September 4, 2026 shows an even more extreme OI percentage of 731% on 475 contracts, indicating aggressive near-term positioning just above the current price. Both puts are in the money relative to today's $86.82 print, adding a layer of short-term caution to an otherwise bullish tape.

With KO sitting just $4.10 below its 52-week high of $90.92, the options market appears split between traders pressing for a breakout and those hedging against a near-term pullback from current elevated levels. The $90 November call with its 129% open interest reading points to a buildup of speculative interest well beyond what was previously established, while the extreme 731% OI on the September put suggests concentrated activity from traders who may be protecting gains or outright betting on a short-term fade. The stock's 0.31% gain today keeps the near-term trend intact, but the presence of two in-the-money puts at the $87 strike expiring within the next month is worth monitoring closely as the stock hovers just below that level.

KO Unusual Options Activity

• Call | Strike: $85 | Expiry: August 21, 2026 | Size: 2,373 | OI%: 13% | In the Money | Premium: $609,861
• Call | Strike: $90 | Expiry: November 20, 2026 | Size: 2,900 | OI%: 129% | Out of the Money | Premium: $812,290
• Put | Strike: $87 | Expiry: August 14, 2026 | Size: 758 | OI%: 242% | In the Money | Premium: $98,540
• Put | Strike: $87 | Expiry: September 4, 2026 | Size: 475 | OI%: 731% | In the Money | Premium: $93,575
• Call | Strike: $95 | Expiry: September 18, 2026 | Size: 1,366 | OI%: 7% | Out of the Money | Premium: $47,946.60

KO Seasonality

August and September have historically represented a mixed seasonal window for consumer staples names like Coca-Cola, as late-summer volume trends and back-to-school demand dynamics can provide modest revenue support. The clustering of near-term options expirations in August and September suggests traders are closely watching how KO navigates this seasonal transition heading into the fall quarter.

KO Relative Performance

KO's 0.31% gain on the session is a modest but positive print. With the stock at $86.82 and its 52-week low at $65.35, shares have rallied significantly off their lows and are now trading within approximately 4.5% of the 52-week high of $90.92, reflecting relative strength compared to broader market volatility that has pressured more cyclically sensitive equities in recent months.