(Updated - February 14, 2019 3:03 PM EST)

Susquehanna options strategist Alison Edwards highlights call buying activity in PepsiCo (NASDAQ: PEP), ahead of the company's earnings tomorrow (and with shares down 1.5% following Coca-Cola (NYSE: KO) earnings), the bias appears to be to the upside, and includes buyers of Feb 114 calls and next week’s Feb22 114 & 115 calls.