Coca-Cola reported stronger-than-expected fourth-quarter results
Coca-Cola Co (NYSE:KO) stock is 4.2% higher at $67.26 at last glance, following the company’s stronger-than-expected fourth-quarter earnings report. The soda maker posted earnings per share of 55 cents on revenue of $11.54 billion, both of which surpassed estimates. Rising demand for its beverages contributed to a 6% increase in net sales for the quarter.
In response, KO is experiencing unusually high intraday options activity. So far, more than 79,000 call contracts and 24,000 put contracts have exchanged hands -- 7 times the typical volume for this point in a session. The most actively traded contract is the January 2027 62.50-strike call, while the runner-up, the weekly 2/14 68-strike call, is seeing new positions being bought to open.
Today's bull gap has propelled Coca-Cola stock to its highest level since late October, breaking above overhead pressure at the 100-day moving average. Over the past month, the equity has gained 9.6%, bringing its year-to-date advance to 7.8%.