Someone with a lot of money to spend has taken a bullish stance on PepsiCo PEP.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with PEP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for PepsiCo.
This isn't normal.
The overall sentiment of these big-money traders is split between 81% bullish and 18%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,350, and 10, calls, for a total amount of $494,495..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $195.0 for PepsiCo over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for PepsiCo's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of PepsiCo's whale trades within a strike price range from $130.0 to $195.0 in the last 30 days.
PepsiCo Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PEP | CALL | SWEEP | BULLISH | 01/19/24 | $165.00 | $147.3K | 1.0K | 86 |
| PEP | CALL | TRADE | BULLISH | 09/15/23 | $130.00 | $43.6K | 41 | 7 |
| PEP | CALL | SWEEP | BULLISH | 01/19/24 | $165.00 | $43.3K | 1.0K | 35 |
| PEP | CALL | TRADE | BULLISH | 01/19/24 | $185.00 | $43.0K | 3.6K | 137 |
| PEP | CALL | TRADE | BULLISH | 01/19/24 | $185.00 | $42.7K | 3.6K | 170 |
Where Is PepsiCo Standing Right Now?
- With a volume of 1,270,790, the price of PEP is up 0.22% at $191.78.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 77 days.
What The Experts Say On PepsiCo:
- Barclays has decided to maintain their Overweight rating on PepsiCo, which currently sits at a price target of $198.
- Wedbush has decided to maintain their Outperform rating on PepsiCo, which currently sits at a price target of $206.
- Evercore ISI Group has decided to maintain their In-Line rating on PepsiCo, which currently sits at a price target of $195.
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $210
- Argus Research has decided to maintain their Buy rating on PepsiCo, which currently sits at a price target of $212.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for PepsiCo, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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