Bearish flow noted in PepsiCo with 4,662 puts trading, or 1.2x expected. Most active are Oct-23 165 puts and 10/6 weekly 165 puts, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 2.43, while ATM IV is up over 1 point on the day. Earnings are expected on October 10th.
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