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.