PepsiCo Inc (PEP) $60.60 -0.61%
Pepsico shares are off 40c to $60.60 and option volume is 3x the daily average. Driving the activity is buying in the April $65 call which has traded some 15,000 contracts against prior open interest of 8,563 contracts. The volume is 78% on the ask including a three 3,000+ contract blocks at the 65c asking price. Also, the Jan. $60 put has traded 4,600 contacts mostly on the bid but this might be closing as prior open interest was over 15,000 contracts. The chart presents reasonable support at the $60 level but also left a gap down at $63 so might be bound by sideways action in the near term.
Category: All Stocks, Food & Beverage, Large Cap Stocks
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Thanks Steve.
Orange Juice is at a multi-year high, and Tropicana is part of PEP’s business.
Guess it makes sense, but no position for me. Lost interest in the PEP post financial crisis myself, but good to see some movement being speculated on….