KOCoca-Cola Company
Options Analysis Report•BEVERAGES
Market Cap $337.0B|NYSE
● 2026-04-30$78.87
NEUTRAL
Analysis: 2026-04-29 EOD data
1Y +8.7%YTD +14.1%7D +3.4%
Options Vol
44,435
30D
Implied Move
±5.5%
IV Rank
59%
KO Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.7
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 1.3% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.91x — IV ≤ HV
Sector Relative≤50%
Sector percentile 0% — below sector median
Term Structure
<1.1xFront/Back 1.17x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 19.8% — normal range
Spread-Adjusted Value
<80%Effective IV 40.2% (ATM 19.8% + spread 10.2% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 14.89% (spread 10.19% + slippage 4.70%) — high friction
Vega Efficiency
≥5.0Vega efficiency 21.81 (vega 22.222 / spread 10.19%) — efficient
Sentiment
Bullish or bearish?
6.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +15%, Raw: +14%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +15% (bullish) — Raw: +14%
OI Skew Magnitude
≥15%|OI skew| 0.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +15.8%, OI skew +0.6% — aligned
Conviction Quality
≥2/3 conditions0-DTE 39%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +26%, ATM: +10%, OTM: +17% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 66% — bearish vs sector
Activity
Unusual activity?
4.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 5.8% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +8.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 69% — active vs sector
Trade Quality
≥30%Large trade volume 26% — mixed
Execution Urgency
≥60%Aggressive execution 44% — patient
Flow Conviction
≥30Conviction +15 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 10.2% — wide
Adequate OI
≥10,000OI 762,681 — deep
Active Volume
≥500Volume 44,435/day — active
Reasonable Cost
≤$0.50$0.51 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 0% — much tighter than sector
Order Book Depth
≥100 contractsDepth 406.70000000000005 contracts (bid:189.8 ask:216.9) — adequate
Execution Quality
<1.0%Avg slippage 4.70% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +16.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 1% — buyer opportunity
Event Detection
≥10pts kinkIV kink 4.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1553.99 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +15% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 56 (ITM 20% + inst 26%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls6.6
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, mixed flow
Covered Call4.2
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.