Dan Nathan Sees Unusual Options Activity In Coca-Cola

On CNBC's "Options Action", Dan Nathan said that put options volume in The Coca-Cola Co KO was five times the average daily volume on Tuesday.

The largest trade of the day, in Coca-Cola, was a purchase of 35,000 contracts of the January 2020, 40-strike puts. The trader paid $1 for them, which sets the breakeven for the trade at $39 or 21.28 percent lower.