The Coca-Cola Company (KO) is an Atlanta based beverage and soft-drink manufacturer and distributor, and currently represents one of the world’s most recognizable brands. At the time of this post (1:30PM CST), KO is currently trading at 43.39, up 2.19% on the day. The stock is currently well within the upper portion of its 52 week trading range of 37.85-45.00, and today’s move higher represents a significant continuation move after yesterday’s bounce off of 42.00 level support on a daily chart.
KO has seen a huge move higher today as we continue to see bullish unusual options activity in the name. Our traders have been following the activity in this name since last week when massive blocks of the KO May 44 calls were bought. Our traders bought these calls and have since seen them double in value. Since then there have been more blocks of calls bought on multiple lines of calls. It seems like institutional traders are speculating on news in KO over the weekend. The stock has also broken above the Ichimoku Cloud and is now trading in bullish territory on a chart. With the improving technical story and the massive order flow in the name we are expecting a lot of upside in KO through the May expiration.