Pepsi Currently Oversold

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