This is a follow up to our previous article on Put / Call ratios. Here is a list of stocks and ETFs with very high Put / Call ratios, signaling excessive pessimism. All data sourced from Schaeffers, based on open option contracts.

Perhaps this would be an interesting list for contrarians to look at.

*click for expanded image*

: 18,728 put options, divided by 969 call options, implying a Put / Call ratio of 19.33**Poniard Pharmaceuticals (OTCPK:PARD)**: 11,232 put options, divided by 1,409 call options, implying a Put / Call ratio of 7.97**World Acceptance Corp. (WRLD)**: 120,017 put options, divided by 19,622 call options, implying a Put / Call ratio of 6.12**iShares MSCI Taiwan Index (EWT)**: 22,649 put options, divided by 3,730 call options, implying a Put / Call ratio of 6.07**Gerdau Ameristeel Corporation (GNA)**: 16,9806 put options, divided by 30,858 call options, implying a Put / Call ratio of 5.5**Royal Caribbean Cruises Ltd. (RCL)**: 13,209 put options, divided by 3,158 call options, implying a Put / Call ratio of 4.18**CNinsure Inc. (CISG)**: 24,957 put options, divided by 6,035 call options, implying a Put / Call ratio of 4.14**iShares MSCI South Korea Index Fund (EWY)**: 21,610 put options, divided by 5,963 call options, implying a Put / Call ratio of 3.62**Pitney Bowes Inc. (PBI)**: 11,038 put options, divided by 3,097 call options, implying a Put / Call ratio of 3.56**Harman International Industries Inc. (HAR)**: 61,507 put options, divided by 17,746 call options, implying a Put / Call ratio of 3.47**Frontier Communications Corp (FTR)**: 31,917 put options, divided by 9,218 call options, implying a Put / Call ratio of 3.46**Gerdau SA (GGB)**: 41,107 put options, divided by 12,211 call options, implying a Put / Call ratio of 3.37**AstraZeneca plc (AZN)**: 139,049 put options, divided by 43,369 call options, implying a Put / Call ratio of 3.21**Consumer Staples Select Sect. SPDR (XLP)**: 11,479 put options, divided by 3,583 call options, implying a Put / Call ratio of 3.2**Digital Realty Trust, Inc. (DLR)**: 10,237 put options, divided by 3,198 call options, implying a Put / Call ratio of 3.2**Kinetic Concepts, Inc. (KCI)**: 24,465 put options, divided by 7,667 call options, implying a Put / Call ratio of 3.19**Acorda Therapeutics Inc. (ACOR)**: 24,818 put options, divided by 7,928 call options, implying a Put / Call ratio of 3.13**The Cheesecake Factory Incorporated (CAKE)**: 24,244 put options, divided by 7,907 call options, implying a Put / Call ratio of 3.07**Tanzanian Royalty Exploration Corp. (TRE)**: 54,826 put options, divided by 18,433 call options, implying a Put / Call ratio of 2.97**Legg Mason, Inc. (LM)**: 227,096 put options, divided by 80,885 call options, implying a Put / Call ratio of 2.81**Health Care SPDR (XLV)**: 39,167 put options, divided by 14,499 call options, implying a Put / Call ratio of 2.7**Aruba Networks, Inc. (ARUN)**: 19,394 put options, divided by 7,206 call options, implying a Put / Call ratio of 2.69**Kinder Morgan Energy Partners LP (KMP)**: 8,425 put options, divided by 3,174 call options, implying a Put / Call ratio of 2.65**Penn National Gaming, Inc. (PENN)**: 16,804 put options, divided by 6,411 call options, implying a Put / Call ratio of 2.62**Becton, Dickinson and Co. (BDX)**

**Disclosure: **No positions

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