KO options strategies, priced on the real chain
$87.59Coca-Cola Company · chain snapshot captured Aug 1, 2026
Low realized vol, a reliable quarterly dividend, and IV that usually sits in the mid-to-high teens. Premium sellers get paid little per contract here — the trade is about total return on a share position you were going to hold anyway.
Every page below prices its structure against the August 28, 2026 expiry — 21% at-the-money implied vol, #18 of the 20 underlyings on this site. What moves KO: quarterly earnings and, more importantly for options, the ex-dividend date.
10 strategies on KO
One contract (or one 100-share lot) per structure, at-the-money template strikes on the August 28, 2026expiry. Breakevens and probability of profit come from OptionTracker’s engine.
Start here
- KO covered callSell upside on shares you already own and get paid for the cap. · breakeven $86.67 (−1.1%)
- KO cash-secured putGet paid to place a limit order below the market. · breakeven $84.06 (−4.0%)
- KO iron condorSell a range, buy the wings, collect if the stock stays put. · breakeven $82.54 (−5.8%)
- KO bull call spreadBuy a call, sell a higher one — cheaper upside with a ceiling. · breakeven $89.08 (+1.7%)
- KO bull put spreadSell a put spread below the market: credit now, defined risk. · breakeven $84.53 (−3.5%)
- KO long straddleBuy the call and the put — pay for a move in either direction. · breakeven $84.04 (−4.1%)
Related reading
- The wheel strategy, with real numbersEveryone can recite the four steps. Almost nobody can tell you what a completed cycle returned on the capital it tied up. Here is one, priced off a real chain and folded by the same engine that runs our tracker.
- What a cash-secured put actually paysThe annualized-return column is the one everybody screenshots. It is also the one that tells you least. Here is the whole ladder — return, probability, breakeven, and the loss that takes six winners to repair.
- Covered calls on shares you already ownThe covered-call math you find online divides premium by cost basis. If you bought the stock years ago, that number is a fantasy — and it will talk you into selling a strike you should never have touched.