Ticker Options Intelligence

COKE options intelligence

Coca-Cola Consolidated Inc. options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 45 Market data through 31 Jul 2026 Checked 2 Aug 2026 08:10 · complete available chain

Put-side pressure

Bearish pressure

COKE currently carries bearish options pressure with a 45/100 conviction score. The nearest-chain expected move is 9.9%, with volume/open-interest participation at 0.01.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bearish

Put-side pressure

Expected move 9.9%

Wider near-term move priced

Activity / OI 0.01

Current volume is quieter versus prior open interest

Put-call 2.14

Put-side skew

Trend fit 58

Options are not fully confirming trend

Weekly backdrop +1.7%

RS 6.3

Expected move 9.9%
Put-call volume 2.14
Volume / OI 0.01
Reference IV 0.53
Max pain 190.00
Underlying 187.90
Nearest expiry 21 Aug 2026
Contracts 240

Research Brief

COKE has a bearish chain read with 45/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 169.30–206.50; The largest call open-interest concentration is 200.00; the largest put concentration is 185.00. The most active strike by current volume is 190.00.

Priced range169.30–206.50
Call concentration200.00
Put concentration185.00
Max pain reference190.00
What would confirm it
  • Price remains weak while put-side concentration persists.
What would weaken it
  • Price recovers while put pressure fades or reverses toward calls.
  • Options and the weekly trend are not yet giving the same message.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 21 Aug

Options imply 169.30 to 206.50. Max pain at 190.00 sits inside that range, 1.1% above spot.

Spot Max pain
169.30187.90 ± 18.60206.50
Confirmation level

A close beyond 206.50 or below 169.30 at the 21 Aug expiry would exceed the move currently priced by this chain.

Important limitation

The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.

Score Construction

Why conviction is 45/100

Evidence alignment, not probability

Pressure is 48/100 toward puts; conviction uses its strength, while the signal label carries its direction.

Directional pressure48 × 42%
+20.3

How strongly activity leans toward calls or puts.

Participation7 × 22%
+1.6

Volume relative to existing open interest and contract-level activity.

Trend agreement58 × 26%
+15.2

How closely the chain read agrees with the underlying trend backdrop.

Volatility77 × 10%
+7.7

The intensity of implied volatility and the priced move.

Reconstructed score44.8Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 200.00; the largest put concentration is 185.00. The most active strike by current volume is 190.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
20
130.00-30.8%
0
16
135.00-28.2%
0
12
145.00-22.8%
2
17
150.00-20.2%
0
15
155.00-17.5%
0
51
160.00-14.8%
1
419
165.00-12.2%
1
29
170.00-9.5%
1
940
175.00-6.9%
3
24
180.00-4.2%
15
3083
185.00-1.5%
31
20
190.001.1%
42
25
195.003.8%
81
19
200.006.4%
172
2
210.0011.8%
70
0
220.0017.1%
11
0
230.0022.4%
8
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.32× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.53 21 Aug 21d
0.45 18 Sep 49d
0.41 18 Dec 140d
0.40 19 Mar 231d

Volatility by Strike

Downside protection premium

Nearest expiry, within 20% of spot

Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.

155
160
165
170
175
180
185
190
195
200
210
220
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

Forward validation is building. The earliest eligible stored read expires 21 Aug 2026; its result will appear after the matched closing reference is stored.

Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
  • Versioned calculationv2 observations only
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

High

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
240 / 240
  • No material coverage gap was detected in the retained chain.

Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.

Options Intent Radar

Earnings/event positioning

88/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Bearish flow against rising price

Put-side pressure is building while price is rising, a cautionary divergence.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $45180 of estimated gross traded notional, puts · 8-21 days · atm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure-48
1W price+1.7%
Call premium38%
Put premium62%
Notional split C 38% / P 62% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.01 Volume divided by open interest across the visible chain.
Trend fit 58/100 Agreement between options pressure and Sharemaestro market context.
Event window 5 Aug Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Puts · 8-21 days · ATM
Puts · 8-21 days · ATM puts cluster with 20 contracts traded, $19720 estimated gross traded notional, and 44% of visible notional.
$19720
Calls · 91+ days · ATM calls cluster with 3 contracts traded, $6360 estimated gross traded notional, and 14% of visible notional.
$6360
Puts · 8-21 days · OTM puts cluster with 21 contracts traded, $5348 estimated gross traded notional, and 12% of visible notional.
$5348
Calls · 8-21 days · OTM calls cluster with 11 contracts traded, $4522 estimated gross traded notional, and 10% of visible notional.
$4522
Calls · 8-21 days · ATM calls cluster with 4 contracts traded, $3400 estimated gross traded notional, and 8% of visible notional.
$3400

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Activity Anomaly

Warming up

-

3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 3 completed sessions

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close187.90
1W+1.7%
RS6.3
Fair value+52.5%
Options pressure-48
Speculation7
Volatility77
Trend fit58

Today Versus Normal

Stored-options context

View history
Expected move 9.9% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.53 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 2.14 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.01 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:26 Volatility
Pressure -100
Move 12.1%
30 Jul 10:22 Volatility
Pressure -100
Move 11.4%
31 Jul 10:11 Bullish
Pressure 44
Move 10.7%
31 Jul 15:56 Mixed
Pressure -7
Move 10.2%
2 Aug 07:10 Bearish
Pressure -48
Move 9.9%

Strike Map

Where activity is clustering

Full strike map
Strike130.00
Calls · V 0 · OI 0
Puts · V 0 · OI 20
Strike135.00
Calls · V 0 · OI 0
Puts · V 0 · OI 16
Strike140.00
Calls · V 0 · OI 0
Puts · V 0 · OI 7
Strike145.00
Calls · V 0 · OI 2
Puts · V 0 · OI 12
Strike150.00
Calls · V 0 · OI 0
Puts · V 0 · OI 17
Strike155.00
Calls · V 0 · OI 0
Puts · V 0 · OI 15
Strike160.00
Calls · V 0 · OI 1
Puts · V 10 · OI 51
Strike165.00
Calls · V 0 · OI 1
Puts · V 1 · OI 419

Term Structure

Expiration activity

Volume and IV
Expiry21 Aug 2026
Contracts46
Avg IV0.53
Put-call2.73
Expiry18 Sep 2026
Contracts68
Avg IV0.45
Put-call0.67
Expiry18 Dec 2026
Contracts64
Avg IV0.41
Put-call0.33
Expiry19 Mar 2027
Contracts62
Avg IV0.40
Put-call-

Skew

Call/put IV balance

OTM demand
21 Aug 2026Put IV premium
Call IV0.46
Put IV0.55
Skew0.09
18 Sep 2026Balanced skew
Call IV0.42
Put IV0.47
Skew0.05
18 Dec 2026Balanced skew
Call IV0.39
Put IV0.42
Skew0.04
19 Mar 2027Balanced skew
Call IV0.37
Put IV0.41
Skew0.05

Contract Tape

Most active contracts

Full contract tape
ContractCOKE260821P00190000
SidePut
Expiry21 Aug 2026
Strike190.00
Volume18
OI20
IV0.51
ContractCOKE260821P00160000
SidePut
Expiry21 Aug 2026
Strike160.00
Volume10
OI51
IV0.60
ContractCOKE260821C00200000
SideCall
Expiry21 Aug 2026
Strike200.00
Volume8
OI172
IV0.53
ContractCOKE260821P00170000
SidePut
Expiry21 Aug 2026
Strike170.00
Volume7
OI29
IV0.55
ContractCOKE260821C00190000
SideCall
Expiry21 Aug 2026
Strike190.00
Volume4
OI42
IV0.51
ContractCOKE260821P00185000
SidePut
Expiry21 Aug 2026
Strike185.00
Volume2
OI3083
IV0.52
ContractCOKE260821P00175000
SidePut
Expiry21 Aug 2026
Strike175.00
Volume2
OI940
IV0.55
ContractCOKE261218C00185000
SideCall
Expiry18 Dec 2026
Strike185.00
Volume2
OI35
IV0.42