Seeking Alpha
Value, growth, long-term horizon, medium-term horizon
Profile| Send Message|
( followers)

This is a follow-up article to a list published yesterday. For today's post, we're focusing on stocks reaching new highs with bullish options sentiment.

To create the list, we started with a universe of stocks reaching new highs. We then narrowed down the list by only focusing on stocks with a large number of open call option positions relative to put option positions (i.e. bullish sentiment in the options market).

To give more perspective on investor sentiment, we'll also include data on short float.

Options traders seem to think there's more upside to these names, what do you think? Full analysis below.

Options data sourced from Schaeffer's, short float data sourced from Finviz.

click for expanded image

The list has been sorted by the Put/Call ratio.

1. Brown & Brown Inc. (NYSE:BRO): Insurance Brokers Industry. Market cap of $3.15B. The stock has gained 20.27% over the last year. Call open interest at 1,192 contracts vs. put open interest at 48 contracts (Put/Call ratio at 0.04). Short float at 4.1%, which implies a short ratio of 8.25 days.

2. Arthur J Gallagher & Co. (NYSE:AJG): Insurance Brokers Industry. Market cap of $2.89B. The stock has gained 19.19% over the last year. Call open interest at 297 contracts vs. put open interest at 27 contracts (Put/Call ratio at 0.09). Short float at 3.24%, which implies a short ratio of 8.62 days.

3. Huntsman Corporation (NYSE:HUN): Chemicals Industry. Market cap of $3.32B. The stock has gained 67.67% over the last year. Call open interest at 75,557 contracts vs. put open interest at 10,811 contracts (Put/Call ratio at 0.14). Short float at 3.53%, which implies a short ratio of 1.75 days.

4. Sally Beauty Holdings Inc. (NYSE:SBH): Specialty Retail Industry. Market cap of $2.29B. The stock has gained 68.41% over the last year. Call open interest at 453 contracts vs. put open interest at 76 contracts (Put/Call ratio at 0.17). Short float at 7.07%, which implies a short ratio of 14.89 days.

5. Ares Capital Corporation (NASDAQ:ARCC): Diversified Investments Industry. Market cap of $3.18B. The stock has gained 71.3% over the last year. Call open interest at 19,793 contracts vs. put open interest at 3,979 contracts (Put/Call ratio at 0.2). Short float at 1.28%, which implies a short ratio of 1.98 days.

6. Xcel Energy Inc. (NYSE:XEL): Electric Utilities Industry. Market cap of $10.99B. The stock has gained 28.63% over the last year. Call open interest at 5,701 contracts vs. put open interest at 1,230 contracts (Put/Call ratio at 0.22). Short float at 1.41%, which implies a short ratio of 2.05 days.

7. JetBlue Airways Corporation (NASDAQ:JBLU): Regional Airlines Industry. Market cap of $2.08B. The stock has gained 31.41% over the last year. Call open interest at 56,266 contracts vs. put open interest at 12,716 contracts (Put/Call ratio at 0.23). Short float at 16.62%, which implies a short ratio of 8.55 days.

8. China Southern Airlines Co. Ltd. (NYSE:ZNH): Major Airlines Industry. Market cap of $6.04B. The stock has gained 146.83% over the last year. Call open interest at 1,048 contracts vs. put open interest at 242 contracts (Put/Call ratio at 0.23). Short float at 0.2%, which implies a short ratio of 1.91 days.

9. Pengrowth Energy Trust (NYSE:PGH): Oil & Gas Drilling & Exploration Industry. Market cap of $3.41B. The stock has gained 24.57% over the last year. Call open interest at 8,123 contracts vs. put open interest at 1,930 contracts (Put/Call ratio at 0.24). Short float at 0.42%, which implies a short ratio of 1.45 days.

10. American Capital, Ltd. (NASDAQ:ACAS): Diversified Investments Industry. Market cap of $2.24B. The stock has gained 115.41% over the last year. Call open interest at 72,779 contracts vs. put open interest at 21,490 contracts (Put/Call ratio at 0.3). Short float at 6.98%, which implies a short ratio of 6.76 days.

11. CenturyLink, Inc. (NYSE:CTL): Telecom Services Industry. Market cap of $12.34B. The stock has gained 34.08% over the last year. Call open interest at 19,646 contracts vs. put open interest at 5,901 contracts (Put/Call ratio at 0.3). Short float at 9.77%, which implies a short ratio of 8.54 days.

12. Corrections Corporation of America (NYSE:CXW): Property Management Industry. Market cap of $2.9B. The stock has gained 4.58% over the last year. Call open interest at 1,633 contracts vs. put open interest at 504 contracts (Put/Call ratio at 0.31). Short float at 4.48%, which implies a short ratio of 6.57 days.

13. CBL & Associates Properties Inc. (NYSE:CBL): REIT. Market cap of $2.22B. The stock has gained 85.91% over the last year. Call open interest at 4,449 contracts vs. put open interest at 1,752 contracts (Put/Call ratio at 0.39). Short float at 15.97%, which implies a short ratio of 9.1 days.

14. Ametek Inc. (NYSE:AME): Industrial Electrical Equipment Industry. Market cap of $5.36B. The stock has gained 37.59% over the last year. Call open interest at 1,383 contracts vs. put open interest at 560 contracts (Put/Call ratio at 0.4). Short float at 1.33%, which implies a short ratio of 3.21 days.

15. Dollar Tree, Inc. (NASDAQ:DLTR): Discount and Variety Stores Industry. Market cap of $6.56B. The stock has gained 62.9% over the last year. Call open interest at 24,538 contracts vs. put open interest at 10,231 contracts (Put/Call ratio at 0.42). Short float at 4.37%, which implies a short ratio of 3.58 days.

Disclosure: No positions

Source: 15 Stocks Reaching New Highs on Bullish Options Sentiment