KDPKeurig Dr Pepper Inc.
Options Analysis Report•BEVERAGES
Market Cap $39.6B|NASDAQ
● 2026-05-15$29.10
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y -13.2%YTD +4.9%7D +0.9%
Options Vol
396
30D
Implied Move
±8.6%
IV Rank
25%
KDP Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks8/9 checks passed
IV Rank
≤35%IV Rank 17.0% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.80x — IV ≤ HV
Sector Relative≤50%
Sector percentile 32% — below sector median
Term Structure
<1.1xFront/Back 0.92x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 27.0% — normal range
Spread-Adjusted Value
<80%Effective IV 63.3% (ATM 27.0% + spread 18.1% + bias) — good value
Execution Efficiency
<3.0%Total drag 26.37% (spread 18.14% + slippage 8.23%) — high friction
Vega Efficiency
≥5.0Vega efficiency 5.11 (vega 9.266 / spread 18.14%) — acceptable
Sentiment
Bullish or bearish?
4.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -31%, Raw: -34%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -31% (strong bearish) — Raw: -34%
OI Skew Magnitude
≥15%|OI skew| 39.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +1.5%, OI skew +39.5% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 29%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +51%, ATM: -25%, OTM: -60% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 71% — very bearish vs sector
Activity
Unusual activity?
2.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.1x avg — normal
Turnover Rate
≥15%Vol/OI 0.4% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +0.7% (5d) — stable
Sector Relative≥60%
Sector activity percentile 0% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 52% — patient
Flow Conviction
≥30Conviction -31 (bearish) — moderate
Liquidity
Can I trade efficiently?
3.6
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 18.1% — wide
Adequate OI
≥10,000OI 98,824 — deep
Active Volume
≥500Volume 396/day — thin
Reasonable Cost
≤$0.50$0.91 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 34% — tighter than sector
Order Book Depth
≥100 contractsDepth 345.70000000000005 contracts (bid:172.3 ask:173.4) — adequate
Execution Quality
<1.0%Avg slippage 8.23% — poor
Timing
Is now a good time?
7.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -7.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 17% — buyer opportunity
Event Detection
≥10pts kinkIV kink -1.4pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1519.07 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -31% @ 65% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.2
bullishIV cheap, mixed flow
Long Puts6.5
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put3.9
bullishIV too cheap, mixed flow
Covered Call4.1
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.