Investors are anxiously awaiting the conclusion of the Federal Reserve's December meeting, which could bring a 50 basis-point rate hike -- much smaller than the previous increases. They will also be looking to Fed Chair Jerome Powell's speech this afternoon for clues as to the central bank's 2023 plans. The Dow Jones Industrial Average (DJI) is up 195 points at midday, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are firmly higher as well. 

Keurig Dr. Pepper Inc(Nasdaq: KDP) is getting blasted in the options pits today. So far, 4,951 calls and 1,874 puts have been exchanged, which is 11 times what's typically seen at this point. The most popular contract is the December 38 call, followed by the 38 put in that series, with positions being opened at both. The company announced a new partnership with Nutrabolt yesterday, which includes a long-term sales and distribution agreement. The shares are down 0.9% at $37.30 at the last check, but a floor near the $33 level looks poised to contain this pullback. Quarter-to-date, KDP had added nearly 4%.

Carvana Co (NYSE: CVNA) is one of the best stocks on the New York Stock Exchange (NYSE) today, last seen up 11% at $5.35. It's unclear what's driving this bull gap, since the security has struggled lately, and carries a more than 97% year-to-date deficit. The shares are fresh off a Dec. 7, all-time low of $3.55, while the 40-day moving average has pressured CVNA lower since September.

Towards the bottom of the NYSE today is ABM Industries Inc (NYSE: ABM). The stock is down 5.1% at $43.34 at last glance, after the company's adjusted 2023 profit outlook came in below Wall Street's expectations. ABM cited continued labor-related pressures in the near-term. Today's bear gap has the security slipping below the 30-day moving average, which has acted as support since October. Year-to-date, ABM maintains a 4.8% year-to-date lead.

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