He said call volume was 10 times higher than the put options volume on Tuesday, and most of the call options volume happened in one trade. A trader sold to close 13,000 contracts of the April 42 calls and bought to open 13,000 contracts of the June 42 calls for $1.02.
The June 42 calls break even at $43.02, or 2.45 percent above the closing price on Tuesday. Nathan explained that it makes a lot of sense to define risk in The Coca-Cola Co, because it has under performed the market and it is trading at its trend line, testing an important support.
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