Earnings preview in Pepsico

PEP_B

The 50 & 200 SMAs are converging as $PEP heads into Earnings on 07/09 BMO. I like the following trade structure:

Long the July 95/97.5/100 Call Fly
Short the July $94 Puts

Cost: EVEN

Takes margin

 

– DM 9:40 AM CST