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

The following is a list of stocks hitting new highs. All of these stocks have a large number of open call option contracts relative to put option contracts, i.e. bullish options market sentiment.

To compile this list, we started with a universe of stocks hitting new highs. We then narrowed down the universe by only focusing on stocks with very low Put/Call ratios, i.e. bullish options positioning.

Options traders seem to think that there's more upside to these rallying 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. (Note: All values based on data collected on Monday after the close)

1. UGI Corp. (NYSE:UGI): Diversified Utilities Industry. Market cap of $3.28B. Call open interest at 3,160 contracts vs. put open interest at 145 contracts (Put/Call ratio at 0.05). Short float at 0.88%, which implies a short ratio of 1.69 days. The stock has gained 29.39% over the last year.

2. Wisconsin Energy Corp. (NYSE:WEC): Diversified Utilities Industry. Market cap of $6.97B. Call open interest at 3,714 contracts vs. put open interest at 212 contracts (Put/Call ratio at 0.06). Short float at 2.44%, which implies a short ratio of 3.96 days. The stock has gained 40.8% over the last year.

3. Enbridge Inc. (NYSE:ENB): Oil & Gas Pipelines Industry. Market cap of $21.11B. Call open interest at 2,336 contracts vs. put open interest at 229 contracts (Put/Call ratio at 0.10). Short float at 0.23%, which implies a short ratio of 3.11 days. The stock has gained 47.39% over the last year.

4. TransGlobe Energy Corp. (NASDAQ:TGA): Independent Oil & Gas Industry. Market cap of $729.83M. Call open interest at 2,937 contracts vs. put open interest at 403 contracts (Put/Call ratio at 0.14). Short float at 0.22%, which implies a short ratio of 0.76 days. The stock has gained 188.42% over the last year.

5. Macquarie Infrastructure Company LLC (NYSE:MIC): Basic Materials Wholesale Industry. Market cap of $845.82M. Call open interest at 2,626 contracts vs. put open interest at 368 contracts (Put/Call ratio at 0.14). Short float at 1.22%, which implies a short ratio of 2.92 days. The stock has gained 129.24% over the last year.

6. Ares Capital Corporation (NASDAQ:ARCC): Diversified Investments Industry. Market cap of $3.27B. Call open interest at 20,057 contracts vs. put open interest at 4,098 contracts (Put/Call ratio at 0.20). Short float at 1.29%, which implies a short ratio of 2.03 days. The stock has gained 80.47% over the last year.

7. Mag Silver Corp. (NYSEMKT:MVG): Silver Industry. Market cap of $484.86M. Call open interest at 2,386 contracts vs. put open interest at 511 contracts (Put/Call ratio at 0.21). Short float at 1.52%, which implies a short ratio of 6.45 days. The stock has gained 70.31% over the last year.

8. CenterPoint Energy, Inc. (NYSE:CNP): Diversified Utilities Industry. Market cap of $7.B. Call open interest at 7,818 contracts vs. put open interest at 1,839 contracts (Put/Call ratio at 0.24). Short float at 1.86%, which implies a short ratio of 2.07 days. The stock has gained 38.96% over the last year.

9. Northeast Utilities (NYSE:NU): Diversified Utilities Industry. Market cap of $5.54B. Call open interest at 682 contracts vs. put open interest at 164 contracts (Put/Call ratio at 0.24). Short float at 1.55%, which implies a short ratio of 1.76 days. The stock has gained 41.7% over the last year.

10. Ametek Inc. (NYSE:AME): Industrial Electrical Equipment Industry. Market cap of $5.82B. Call open interest at 2,042 contracts vs. put open interest at 601 contracts (Put/Call ratio at 0.29). Short float at 1.41%, which implies a short ratio of 3.19 days. The stock has gained 57.39% over the last year.

11. CapitalSource Inc. (NYSE:CSE): Credit Services Industry. Market cap of $1.98B. Call open interest at 15,487 contracts vs. put open interest at 4,595 contracts (Put/Call ratio at 0.30). Short float at 1.65%, which implies a short ratio of 2.4 days. The stock has gained 73.94% over the last year.

12. Pengrowth Energy Trust (NYSE:PGH): Oil & Gas Drilling & Exploration Industry. Market cap of $3.51B. Call open interest at 6,451 contracts vs. put open interest at 1,950 contracts (Put/Call ratio at 0.30). Short float at 0.38%, which implies a short ratio of 1.31 days. The stock has gained 41.76% over the last year.

13. El Paso Corp. (EP): Oil & Gas Pipelines Industry. Market cap of $9.45B. Call open interest at 146,741 contracts vs. put open interest at 44,871 contracts (Put/Call ratio at 0.31). Short float at 2.02%, which implies a short ratio of 2.35 days. The stock has gained 37.36% over the last year.

14. Penn West Energy Trust (NYSE:PWE): Oil & Gas Drilling & Exploration Industry. Market cap of $10.43B. Call open interest at 16,180 contracts vs. put open interest at 5,475 contracts (Put/Call ratio at 0.34). Short float at 0.44%, which implies a short ratio of 1.06 days. The stock has gained 53.67% over the last year.

15. Energy Transfer Equity, L.P. (NYSE:ETE): Oil & Gas Pipelines Industry. Market cap of $8.78B. Call open interest at 2,301 contracts vs. put open interest at 807 contracts (Put/Call ratio at 0.35). Short float at 0.51%, which implies a short ratio of 2.14 days. The stock has gained 47.49% over the last year.

Disclosure: No positions

Source: 15 Stocks Hitting New Highs With Bullish Options Sentiment