KO Options Signal Bullish Bias: Target $72.5 Calls as Earnings Approach

• Current price: $70.635, up 0.19% with volume at 9.16M shares
• Options OI imbalance: 406K calls vs 291K puts (put/call ratio: 0.716)
• Earnings on Feb 10, 2026, with analysts projecting $0.56 EPS (1.8% YoY up)

Here’s the takeaway: KO’s options market is leaning bullish, with heavy call open interest at key strikes like $72.5 and $75. The stock’s technicals and institutional buying suggest a potential breakout ahead of earnings.

What the Options Chain Reveals About Market Sentiment

The top OTM call options for this Friday ($75, $72.5) show a clear bias toward upside bets. The $75 strike alone has 20,241 open contracts—nearly triple the nearest put (65 strike at 16,327). This isn’t just noise: it’s a crowd-sourced bet that KO could test $75 before February.

But don’t ignore the puts. The $65 strike (16,327 OI) acts as a floor for institutional hedgers. If KO dips below $70.27 (intraday low), that put-heavy zone could trigger a rebound. The block trade at KO20260213C74 (1,700 contracts) also hints at big money positioning for a post-earnings pop.

News Flow: Earnings Season Setup and Institutional Confidence

Coca-Cola’s Feb 10 earnings report is the elephant in the room. Analysts expect a 1.8% EPS beat, and the “Strong Buy” ratings from 19 of 24 analysts aren’t arbitrary. The recent 32.5% position boost by MGO One Seven LLC (now 70.26% institutional ownership) shows big players are betting on KO’s long-term stability.

But here’s the twist: The stock’s long-term range-bound trend (200D MA at $69.89) means volatility could swing either way. If earnings miss, the $67.5–$69.80 support cluster (Bollinger Middle Band) becomes critical.

Actionable Trade Ideas for TodayFor Options Traders:

• KO20260116C72.5 (this Friday’s $72.5 call): Buy if KO breaks above $70.95 (intraday high). The 15,377 OI at this strike suggests liquidity and momentum.
• KO20260123C74 (next Friday’s $74 call): A safer play if KO consolidates. The block trade at this strike hints at a whale’s confidence.

For Stock Investors:

• Entry near $70.27 (intraday low) if price holds above $69.80 (middle Bollinger Band). Target $71.74 (upper Bollinger Band) as a first test.
• Stop-loss below $69.70 to protect against a breakdown of the 30D support ($69.99–70.11).

Volatility on the Horizon

The next two weeks will test KO’s resolve. A breakout above $71.74 could trigger a rally toward $75 (call-heavy zone), while a dip below $69.80 might force a retest of the $67.86 (lower Bollinger Band). Either way, the options market is pricing in a directional move, not a sideways grind.

Stay nimble. The earnings report and CAGNY presentation on Feb 17 could be the spark that turns this options setup into a full-blown trade. For now, watch the $70.50–$70.95 range like a hawk—it’s the line between calm and chaos.