PepsiCo Stock Pivots Lower Despite Quarterly Win

Shares yesterday hit their highest level since September

Digital Content Manager
Apr 23, 2024 at 10:42 AM
facebook X logo linkedin

PepsiCo Inc (NASDAQ:PEP) stock is brushing off better-than-expected first-quarter earnings and revenue, last seen down 3.3% at $170.58. Despite seeing a slowdown in demand for its sodas and snacks in the United States due to high inflation, international markets drove growth.

Shares are taking a breather after hitting their highest level since September last session, which came after a bounce off the $166 level earlier this month. The security is today looking to snap a five-day win streak, and has shed 8% in the last year. 

Options volume is running at triple the intraday average volume today, with 5,267 calls and 5,766 puts exchanged so far. The most popular contract is the weekly 4/26 170-strike put, but new positions are being bought to open at the 172.50-strike put in that same series.

This denotes a sentiment shift, as short-term options traders have leaned bullish. This is per PepsiCo stock's Schaeffer's put/call open interest ratio (SOIR) of 0.80, which sits in the relatively low 23rd percentile of annual readings. 


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!