KDPKeurig Dr Pepper Inc.
Options Analysis Report•BEVERAGES
Market Cap $36.0B|NASDAQ
● 2026-04-17$26.53
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y -24.9%YTD -4.3%7D -0.2%
Options Vol
10,879
30D
Implied Move
±9.0%
IV Rank
47%
KDP Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks2/9 checks passed
IV Rank
≤35%IV Rank 43.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.71x — IV premium over HV
Sector Relative≤50%
Sector percentile 64% — above sector median
Term Structure
<1.1xFront/Back 1.16x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 34.0% — normal range
Spread-Adjusted Value
<80%Effective IV 102.9% (ATM 34.0% + spread 34.5% + bias) — expensive
Execution Efficiency
<3.0%Total drag 51.34% (spread 34.46% + slippage 16.88%) — high friction
Vega Efficiency
≥5.0Vega efficiency 2.41 (vega 8.300 / spread 34.46%) — spread drag
Sentiment
Bullish or bearish?
6.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Strong signal (Conviction: -16%, Raw: -15%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -16% (bearish) — Raw: -15%
OI Skew Magnitude
≥15%|OI skew| 16.5% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +46.2%, OI skew +16.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 35%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +58%, ATM: +26%, OTM: -16% — strong bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 29% — very bullish vs sector
Activity
Unusual activity?
6.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 4.7x avg — hot
Turnover Rate
≥15%Vol/OI 14.3% — 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 +6.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 94% — very active vs sector
Trade Quality
≥30%Large trade volume 93% — heavy institutional
Execution Urgency
≥60%Aggressive execution 48% — patient
Flow Conviction
≥30Conviction -16 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 34.5% — wide
Adequate OI
≥10,000OI 76,194 — deep
Active Volume
≥500Volume 10,879/day — active
Reasonable Cost
≤$0.50$1.72 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 66% — wider than sector
Order Book Depth
≥100 contractsDepth 306.7 contracts (bid:170.1 ask:136.6) — adequate
Execution Quality
<1.0%Avg slippage 16.88% — poor
Timing
Is now a good time?
6.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +15.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 43% — neutral
Event Detection
≥10pts kinkIV kink 2.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1537.09 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -16% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 123 (ITM 20% + inst 93%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls4.7
bullishIV expensive, mixed flow
Long Puts4.1
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put5.7
bullishIV rich premium, mixed flow
Covered Call5.0
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.