KO – Coca-Cola Co. – One bullish player appears to be rolling a sizeable position in call options up to a higher strike price today in order to position for continued appreciation in the price of Coca Cola’s shares through January 2011 expiration. Shares of the beverage maker are up 0.55% to stand at $57.88 as of 11:15 am ET. It looks like the options investor sold 10,000 now in-the-money calls at the November $57.5 strike for premium of $1.75 apiece in order to purchase the same number of calls at the higher January 2011 $60 strike at a premium of $1.17 each. In isolation, net profits enjoyed on the trade amount to $0.58 per contract. It is likely that the investor responsible for today’s transaction originally purchased the November $57.5 strike calls as part of a similar calendar roll back on July 21, 2010, wherein he rolled calls up from the August $55 strike to the November $57.5 strike. The beverage-bull is hoping to see KO’s shares extend gains through the start of next year.