#SPXcampaign Taking another shot at an #IronButterfly. PEP rarely moves much on earnings. With stock at 106.30 this is slightly bullish placement… the chart is in a small uptrend; plus if it does drop or stay flat after the report it will have until Friday to rise back into range. Risking .67 to make 1.33.

Sold to Open $PEP Feb 17th 105/107/109 iron butterfly for 1.33.
Over last 12 reports, FIVE day moves: Biggest UP move: 3.8%, Biggest DOWN move: -4.2%, Average move: 2.0%. Breakevens on Friday are 105.67 and 108.33. -0.6% and +1.9% OTM.