Restaurant Brands International Inc (NYSE:QSR) is enjoying a post-earnings pop today, up 6.6% at $58.61. The Burger King and Popeye's parent posted second-quarter profits of 82 cents per share, topping analyst expectations of 73 cents, alongside better-than-expected revenue of $1.64 billion. 

QSR is on track for its seventh-straight win -- now just a chip-shot away from its year-to-date breakeven level. Today's positive price action has the stock jumping above the 200-day moving average as well, a trendline that kept a cap on yesterday's gains. 

At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day put/call volume ratio ranks higher than 96% of readings from the past year. This bearish sentiment is ramped up today, with 2,054 puts and 873 calls exchanged so far. The August 55 put is the most active, followed by the September 60 call. 

Though there has been a bout of short-covering over the past couple weeks, with short interest down 19.1% over that time, it would take nearly eight days to cover bearish bets, at QSR's average pace of trading. 

Analysts have yet to chime in today, though there is plenty of room for optimism. Of the 20 in coverage, eight carry a "buy" or better rating, 10 a "hold," and two a "sell" or worse. Plus, the 12-month consensus price target of $61.13 is a slim 4.3% premium to current levels. 

Starbucks Corp (NASDAQ:SBUX) reported fiscal third-quarter earnings of 84 cents on revenue of $8.15 billion after the close yesterday, both of which topped analyst estimates. Strong U.S. sales helped offset lockdowns in China, especially as prices were raised amid inflation. No fewer than five analysts chimed in with minor price-target hikes after the event, with the highest from Deutsche Bank to $93 from $91. At last glance, SBUX is up 1.7% to trade at $85.17. 

Jumping as high as $86.06, SBUX broke above the 150-day moving average for the first time since January earlier today, though the stock has since moved back below. The shares have been moving choppily higher since their May 12 two-year low of $68.39, though the stock is still down 27.6% year-to-date. 

Despite calls outnumbering puts on an absolute basis, the stock's 50-day put/call volume ratio of 0.69 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is in the elevated 90th percentile of its annual range. This suggests puts being picked up at a much faster-than-usual rate. 

Today, options volume is running at three times the intraday average. So far, 48,000 calls and 31,000 puts have crossed the tape. The weekly 8/5 88-strike call is the most active contract, followed by the August 85 call, with new positions being bought to open at the former. 

Campbell Soup Company (NYSE:CPB) announced a strong fiscal third-quarter report and raised its sales forecast before the bell this morning, amid easing supply-chain issues and steady demand for its soups and sauces. The stock is pulling back from its early-morning gains, however. Previously as high as $48.24, CPB is currently down 0.5% to trade at $46.36 as it flip-flops above and below breakeven.

This $48 level appears to be emerging as a ceiling, as it rejected the stock several times at the end of May, with help from the 20-day moving average. Though the stock is struggling to climb back toward its May 9 one-year high of $51.94, the $45 level and 120-day trendline linger below as support. Year-to-date, the equity is up 6.6%. 

Plenty of pessimism has surrounded CPB amongst analysts and options traders. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security sports a 10-day put/call volume ratio of 1.43, which is higher than 92% of readings from the past year. 

Plus, all 10 analysts in coverage are bearish, with eight sporting a tepid "hold" rating and two a "sell" or worse. Their 12-month consensus price target of $44.45 is also a 4.5% discount to current levels.

Though analysts have yet to chime in with any bull notes, options bulls seem to be emerging today. So far, 3,124 calls and 2,458 puts have crossed the tape, with calls running at eight times the intraday average. The weekly 6/10 46-strike put and 50-strike call are the most popular, with new positions opening at the latter. 

Meanwhile, though short interest has been unraveling, it still represents 8% of the stock's available float. In other words, it would take over six days to buy back these bearish bets, at Campbell Soup stock's average pace of daily trading. 

Bath & Body Works Inc (NYSE:BBWI) stock is down 7.6% to trade at $39.64, earlier hitting a one-year low of $38.35. Though the retailer's first-quarter results beat estimates, its reduced 2022 outlook is weighing on the stock. Plus, no fewer than five analysts slashed their price targets, including Credit Suisse to $49 from $64, with the firm noting they "struggle to embrace an apparent Covid-beneficiary in a category that consumers likely over-consumed in ’20 and ’21 -- and one that’s no longer beating Street topline estimates materially quarter to quarter." 

Though the brokerage bunch steered clear of downgrades today, there is ample room for a pessimistic shift. Of the 16 analysts in coverage, 15 carry a "buy" or better rating. Plus, the 12-month consensus price target of $76.35 is still a 92.8% premium to current levels. 

Over in the options pits, puts are more than doubling calls midday, with overall options volume running at five times the intraday average. So far, 26,000 puts and 11,000 calls have been exchanged, with the May 40 put seeing the most activity.

It's also worth noting that BBWI has landed on the short sell restricted (SSR) list today.Lastly, short interest makes up 7.9% of the stock's available float, or four days' worth of pent-up buying power. 

Cisco Systems Inc (NASDAQ:CSCO) is contributing to the Dow's negative price action this morning, down 10.8% at $43.15 at last glance, after the company slashed its 2022 forecast. Earlier hitting an 18-month low of $41.36, today's gap lower has CSCO down 33% year-to-date. 

Supply shortages cut into Cisco's fiscal third-quarter results, as did the war in Ukraine and China's lockdowns, and the networking name's revenue of $12.84 billion missed estimates of $13.34 billion. Earnings of 87 cents per share did beat estimates by one cent, however. 

No fewer than 13 analysts cut their price targets after the event, with the lowest from Citigroup to $40 from $45. The ratings are still the same so far, with the 16 analysts in coverage split toward CSC -- nine carrying a "buy" or better rating, and seven a "hold" or worse.

Meanwhile, in the last two weeks, puts have been exchanged at their fastest pace all year. This is per CSCO's 10-day put/call volume ratio of 1.18 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than all other readings from the past 12 months. 

This penchant for puts is still in place today, with 113,000 puts across the tape so far -- 12 times the intraday average -- in comparison to 79,000 calls. The May 40 and 42 puts are the most popular, with new positions being opened at both. It's also worth noting that Cisco stock has landed on the short sale restricted (SSR) list today.

Brinker International Inc (NYSE:EAT) stock is struggling after the company's fiscal third-quarter results, down 14.7% to trade at $33.67. Though the Burger King parent saw an increase in sales from last quarter, commodity and labor costs took their toll, and Brinker turned in lower-than-expected earnings and revenue while lowering its full-year forecast.

On the charts, EAT now carries an 8% year-to-date deficit, with several long-term moving averages lingering above -- including the 160-day trendline. However, the security appears to have found a floor at the $33 level, which has caught pullbacks in both March and April as well as today.

Meanwhile, options bulls have been blasting Brinker stock. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 9.28 sits higher than 98% of readings from the past year. Echoing this, EAT's Schaeffer's put/call open interest ratio (SOIR) of 0.22 is higher than just 1% of readings.

Calls are still winning out in the options pits today, with 3,230 calls exchanged so far in comparison to 869 puts. Overall, options volume is running at six times the intraday average after the earnings event, and pacing for the 99th percentile of its annual range. The July 50 call is the most popular, followed by the May 45 call, which also happens to be one of the top open interest positions. It's worth noting, however, that EAT has landed on the Short Sale Restricted (SSR) list today. 

Soda giant PepsiCo, Inc. (NASDAQ:PEP) announced earnings of $1.29 per share on revenue of $16.20 billion ahead of the open this morning, beating analyst expectations of $1.23 per share on $15.53 billion. The company noted demand remained steady, despite several rounds of price hikes, and also raised its 2022 revenue forecast. PEP is inching higher in response, up 0.8% to trade at $175.12. 

The stock is still trading near its Jan. 21, record high of $177.24, after touching that peak earlier this month. Longer term, the 320-day moving average has provided support since March 2021, and caught last month's pullback to the $153 level. Year-to-date, PepsiCo stock is hovering just above breakeven. 

So far today, options volume is running at five times the intraday average, and pacing for the top percentile of its annual range. Bulls are winning out, with 24,000 calls traded, as opposed to 5,568 puts. The May 180 call is the most popular by far, with new positions being bought to open there. 

Analysts have yet to respond to the event, but eight of the 10 in coverage already carry a "strong buy" rating on PEP. Meanwhile, the 12-month consensus price target of $182.10 is a slim 4.6% premium to current levels, but represents never-before-seen territory for the stock. 

Blackstone Inc (NYSE:BX) reported better-than-expected first-quarter results, with earnings soaring 63%, as its real estate and credit businesses gave profits a boost. CEO Stephen Schwarzman said this quarter "represented one of the best in Blackstone's 36-year history despite an extremely challenging market backdrop." 

Despite this, BX has erased its early morning gains and was last seen down 1% at $119.14. Earlier, however, the stock was trading as high as $126.80. BX has had a volatile past few months, trading within a wide range on the charts, and is down 7.9% year-to-date. The stock's 320-day moving average still lingers below as support, however, as it has since November of 2020. 

Call traders are targeting the investment firm after the news. So far, 11,000 calls have crossed the tape, which is four times the intraday average and roughly six times the amount of puts traded. The weekly 4/22 130-strike call is the most popular, with new positions being sold to open there. 

Options traders are in luck, too, as BX's Schaeffer's Volatility Scorecard (SVS) sits at an elevated 91 out of a possible 100, meaning the stock has exceeded options traders' volatility expectations in the last 12 months.

U.S.-listed shares of cannabis stock Tilray Inc (NASDAQ:TLRY) are surging today, up 14.1% to trade at $8.02, after the company's fiscal third-quarter results. Tilray reported earnings of nine cents per share, outshining analysts' expected losses of eight cents per share. And though revenue of $151.87 million came in below expectations, it still represents a 22.6% year-over-year gain. Plus, the company announced a partnership with Whole Foods Markets, where it will debut two of its hemp powders exclusively this month. 

However, today's pop seems to be cut short at the 130-day moving average, a trendline of long-term pressure that also rejected the stock's November rally. TLRY is up 55.5% in just the last month, after hitting a March 15 18-month low of $4.78, but seems to be having trouble extending its rebound.

Options traders are targeting Tilray stock at triple what's typically seen at this point. In fact, options volume is pacing for the 99th percentile of its annual range. So far, 167,000 calls and 41,000 puts have crossed the tape. New positions are being opened at the most active option -- the weekly 4/8 8-strike call -- which expires at the end of this week.

There is plenty of room for upgrades, should analysts become more optimistic. Of the 14 in coverage, 10 still carry a "hold" or worse rating. Plus, the 12-month consensus price target of $8.53 is a relatively slim 9.5% premium to current levels.