PEP Options Show Bearish Imbalance at $152.5 Puts as Bulls Target $175 Calls — A Tactical Playbook for March 18th, 2026

• PEP opens bearish with -1.04% drop, trading near 154.87, with Bollinger Bands showing potential bounce from lower band at 155.14.
• Options data highlights heavy bearish interest at the $152.5 put with 6,277 OI and a major $175 call at 9,738 OI — a clear divide in near-term sentiment.
• Big block trade of 4,750 shares in the PEP20260320P152.5 put shows institutional bearish positioning with a cost of $574,750.

Here’s what we’re seeing: the market is torn. On one side, bulls are staking out their claims above $170 with big call options open interest. On the other, a bearish tide is forming near $152.5 with a heavy put skew — and it’s backed by real money. The RSI at 22.7 means we’re oversold, but the MACD is still in negative territory. That creates a setup where a bounce could happen — but it won’t be easy.

Bearish Pressure at $152.5, But Bulls Are Guarding the 175 Line

Take a look at the options flow — the puts at $152.5 are the most heavily bet on, with 6,277 contracts in open interest. That’s a strong signal that some big players are pricing in a drop to that level. On the other side, the $175 calls are the most popular OTM strike at 9,738 OI. That kind of call volume suggests a lot of money is hedging or betting on a rebound.

And there’s a block trade to note: someone just bought 4,750 of the PEP20260320P152.5 puts. That’s not just noise — it’s a signal that someone big is bracing for a drop before Friday’s expiration. If this level breaks, it could create a cascading effect, especially with the 200D MA at 146.31 just below.

Positive News Doesn’t Fully Offset the Put Pressure

PEP has had a lot of good headlines lately — a $10 billion buyback, a big analyst upgrade to $181, a new snack line, and a partnership with VENU. But here’s the rub: those are long-term stories. The options market is focused on the next few days, not next quarter. The bearish block trade at the $152.5 put shows that, for all the good news, there are still concerns about short-term volatility, especially around the upcoming Q1 earnings release on April 16.

And let’s not forget the NBA sponsorship loss to Coke. That’s a blow to brand visibility. It adds to the narrative that investors are hedging against near-term surprises — even if the long-term fundamentals are strong.

Trade Ideas for Today: Play the Imbalance with Precision

If you want to go long PEP, look at the 155.14 level — that’s the lower Bollinger Band. If it holds, consider a limit buy at 154.30 with a stop just below 153.47. Your target? The 160.70 resistance zone if it holds up.

For options players, the PEP20260320C175 call is the most interesting bet right now. With high OI and a big block trade to the downside, this is a defined risk trade. You’re betting that the bearish move fails and the bulls reclaim $160. Entry is around $1.85 per contract (if available), with a target of $3–$4 before Friday’s close.

On the bearish side, the PEP20260320P152.5 put is already showing action — and the block trade makes it more relevant. If the stock hits 153.50 and shows bearish momentum, consider a debit or credit spread to limit risk. The RSI and MACD suggest it might not fall much more today — but we can’t ignore the weight of the put interest.

Volatility on the Horizon

The week of March 18th is shaping up to be a pivotal one. With a high put/call ratio (0.73), the market is leaning bearish, but the underlying technicals (RSI, long-term MA) suggest a rebound could happen — especially if the support at 155.14 holds. The next few days will likely tell us if this is just a correction or the start of a deeper pullback.

What’s your stance? If you’re neutral, consider a calendar spread with the PEP20260320P152.5 and the next week’s PEP20260327P150. The idea is to profit from time decay if the stock stabilizes — and avoid a full downside risk unless the market turns violently.

Bottom line: PEP is in a tight squeeze. But the data — both in price and in options — is clear. The bears are making their move. But the bulls are still at the gates. It’s a tradeable setup — and one that could pay off for those who enter with a plan and a stop.