shomikghosh2
Long

Pepsi Currently Oversold

BATS:PEP   PEPSICO INC
104 0 1
Pepsi is testing an important level that it has bounced off multiple times this year, also it is looking to hold above its earnings gap, there has been a bunch of bullish activity in this name in the options space with many longer-dated calls being bought not sitting in OI, i believe the sell-off here was due to an expected taper in December which has hurt all dividend stocks, however with no taper tomorrow as well as the support level here, i expect PEP to bounce and revisit highs
Disclosure: Long PEP shares and may sell puts soon
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