(Check out Carter's worthcharting.com for actionable recommendations and live nightly videos.) A simple, short-term "pair trade" for your consideration: Buy PepsiCo (PEP) ... Sell Coca-Cola (KO) . Three relative performance charts are below. Pepsi's relative performance to Coke (underperformance) is at the most extreme (most pessimistic) as at any time in history. Our thinking here: play for a countertrend move, play for short-term mean reversion. 10-year ratio chart: PEP/KO Further below the 150-day moving average than at any time in the past 10 years. Play for a countertrend move, here and now... our thinking. 20-year ratio chart: PEP/KO Further below the 150-day moving average than at any time in the past 20 years. Play for a countertrend move, here and now... our thinking. 40-year ratio chart: PEP/KO Further below the 150-day moving average than at any time in the past 40 years...play for a countertrend move, here and now... our thinking. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.