PepsiCo Options Signal Up to 3.5% Swing Ahead of Q3 Earnings Report

PepsiCo (PEP) is scheduled to report third-quarter earnings on Thursday, October 8, 2026, with options pricing indicating traders expect the stock to swing as much as 3.5% in either direction by week's end. A decline of that magnitude from Monday's close could push shares to $121, their lowest level since March 2020. The stock has fallen approximately 13% year-to-date and lost one-quarter of its value from February highs amid concerns over North American sales pressure and shifting consumer tastes. PepsiCo is expected to report adjusted earnings per share of $2.30, up one cent year-over-year, on revenue of $24.96 billion, according to Visible Alpha estimates. UBS maintained a "buy" rating but trimmed its price target to $145 from $159, stating weak North American sales are "more than priced in." Of nine analysts tracked by Visible Alpha, three rate the stock "buy," one "sell," and five neutral. The mean target of $147 implies roughly 17% upside from Monday's close.