Coca Cola (KO) NewsBite - Coca-Cola Down on Credit Worries

Posted on Thursday, August 21, 2008 3:23 PM

Coca Cola (NYSE: KO) opened at $54.19. So far today, the stock has hit a low of $53.22 and a high of $54.19. KO is now trading at $53.51, down $0.84 (-1.55%). The stock hit its 52-Week high of $65.59 in January and set its 52-Week low of $49.44 in July. Coca-Cola shares have been dropping along with the broader market on fears of more credit losses, while soaring oil prices rekindled concern about consumer and business spending. Technical indicators for the stock are bullish and S&P gives KO a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on KO the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 60 range. [ABR-Seven Summits Strategic Investments NewsBite]