3 Stocks With Bearish Crossovers and Options Sentiment

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Includes: CPN, OKSB, SPY, TLAB
by: Kapitall

The following is a list of stocks that have seen their SMA50 move below the SMA200 (i.e. a bearish crossover signal called the "Death Cross"). In addition, all of these stocks have a large number of open put option contracts relative to call option contracts (i.e. bearish options market sentiment).

Is this excessive pessimism justified? Full details below.

Moving average data sourced from Finviz, options data sourced from Finviz.

Interactive Chart: Press Play to compare monthly performance and analyst ratings for all the stocks mentioned below.

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

1. Southwest Bancorp Inc. (NASDAQ:OKSB): Savings & Loans Industry. Market cap of $195.36M. SMA50 at $11.85 vs. SMA200 at $11.94 (current price at $10.02). Call open interest at 55 contracts vs. put open interest at 189 contracts (Put/Call ratio at 3.44). Short float at 3.57%, which implies a short ratio of 6.04 days. The stock has gained 41.23% over the last year.

2. Tellabs Inc. (NASDAQ:TLAB): Communication Equipment Industry. Market cap of $2.53B. SMA50 at $7.34 vs. SMA200 at $7.42 (current price at $6.73). Call open interest at 47,940 contracts vs. put open interest at 100,352 contracts (Put/Call ratio at 2.09). Short float at 7.94%, which implies a short ratio of 3.68 days. The stock has gained 16.1% over the last year.

3. Calpine Corp. (NYSE:CPN): Electric Utilities Industry. Market cap of $5.77B. SMA50 at $12.57 vs. SMA200 at $12.60 (current price at $12.75). Call open interest at 38,397 contracts vs. put open interest at 71,452 contracts (Put/Call ratio at 1.86). Short float at 6.2%, which implies a short ratio of 12.78 days. The stock has gained 17.38% over the last year.

Disclosure: No positions