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