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Tony Zhang Sees Unusual Options Activity In Coca-Cola

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Tony Zhang Sees Unusual Options Activity In Coca-Cola

On CNBC's "Options Action," Tony Zhang said that he saw a fairly unusual float in The Coca-Cola Company (NYSE: KO) on Thursday. It trades about 53,000 contracts a day, but on Thursday more than four times more calls than puts were traded, added Zhang.

During the session, he noticed a purchase of 10,000 contracts of the September $57.50 calls for 96 cents. The trader laid out almost a million dollars in premium to bet that Coca-Cola is going to trade above $58.46 by the September expiration. That would be a move of at least 9.62%.

 

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Posted-In: CNBC Options Action Tony ZhangOptions Markets Media

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