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The following is a list of small cap stocks that have seen strong returns over the past year. Options traders, however, are expecting these stocks to reverse over the coming weeks.

All of the stocks mentioned below have a large number of open put option contracts relative to call option contracts, i.e. bearish options market sentiment.

If you're a contrarian, this excessive pessimism might raise a flag. Options traders don't expect these rallies to continue, do you?

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

Interactive Chart: Press Play to see how market cap values have changed for all the stocks mentioned below.

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

1. Mindspeed Technologies Inc. (NASDAQ:MSPD): Semiconductor Equipment & Materials Industry. Market cap of $215.03M. Call open interest at 1,242 contracts vs. put open interest at 8,495 contracts (Put/Call ratio at 6.84). Short float at 8.52%, which implies a short ratio of 3.28 days. The stock has gained 65.76% over the last year.

2. MGP Ingredients Inc. (NASDAQ:MGPI): Processed & Packaged Goods Industry. Market cap of $162.43M. Call open interest at 554 contracts vs. put open interest at 3,760 contracts (Put/Call ratio at 6.79). Short float at 6.21%, which implies a short ratio of 15.76 days. The stock has gained 67.65% over the last year.

3. Amerigon Inc. (ARGN): Auto Parts Industry. Market cap of $241.22M. Call open interest at 140 contracts vs. put open interest at 436 contracts (Put/Call ratio at 3.11). Short float at 13.44%, which implies a short ratio of 10.93 days. The stock has gained 58.91% over the last year.

4. CompuCredit Holdings Corp. (CCRT): Credit Services Industry. Market cap of $284.64M. Call open interest at 1,264 contracts vs. put open interest at 1,604 contracts (Put/Call ratio at 1.27). Short float at 13.83%, which implies a short ratio of 39.5 days. The stock has gained 116% over the last year.

Disclosure: No positions

Source: 4 Rallying Small Caps With Bearish Options Sentiment