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If you're a contrarian looking for stocks being dragged down by extreme pessimism, the following list might offer an interesting starting point.

All of these stocks have seen a recent increase in the Put/Call ratio, which is based on open interest of option contracts. (Note: The Put/Call ratios of these companies are at the upper end of their annual ranges)

With the number of put option contracts growing so rapidly relative to call option contracts, do you think these stocks are set for a correction?

Insider executives seem to think so--all of the stocks mentioned below have seen significant insider selling over the last six months. Full details below.

Options data sourced from Schaeffer's, insider trading data sourced from Yahoo Finance, and all other data sourced from Finviz. (Please note: All changes in the Put/Call ratio occur between 2/22 - 3/7)

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research. Note: The numbers on top of items represent the forward P/E ratio, if available.

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

1. Panera Bread Co. (PNRA): Specialty Eateries Industry. Market cap of $3.78B.

Current Put/Call ratio at 2.06 vs. previous Put/Call ratio at 1.92 (7.29% change). Over the last six months, shares held by insiders declined by -532,364 (represents a change of -75.9% in insider ownership).

Relatively low correlation to the market (beta = 0.76), which may be appealing to risk averse investors. The stock is also exhibiting strong upside momentum--currently trading 5.34% above its SMA20, 12.7% above its SMA50, and 30.23% above its SMA200.

2. Informatica Corporation (INFA): Business Software & Services Industry. Market cap of $4.41B. The stock has gained 73.71% over the last year.

Current Put/Call ratio at 2.45 vs. previous Put/Call ratio at 2.18 (12.39% change). Over the last six months, shares held by insiders declined by -1,198,780 (represents a change of -57.9% in insider ownership).

The stock is a short squeeze candidate, with a short float at 6.89% (equivalent to 7.47 days of average volume).

3. The GEO Group, Inc. (GEO): Security & Protection Services Industry. Market cap of $1.59B. The stock has gained 29.57% over the last year.

Current Put/Call ratio at 2.41 vs. previous Put/Call ratio at 1.62 (48.77% change). Over the last six months, shares held by insiders declined by -588,621 (represents a change of -33.4% in insider ownership).

4. Innophos Holdings Inc (IPHS): Chemicals Industry. Market cap of $915.26M. The stock has had a good month, gaining 24.35%.

Current Put/Call ratio at 1.9 vs. previous Put/Call ratio at 1.8 (5.56% change). Over the last six months, shares held by insiders declined by -55,560 (represents a change of -15.9% in insider ownership).

5. NetLogic Microsystems Inc. (NETL): Semiconductor Industry. Market cap of $2.85B. The stock has had a good month, gaining 16.46%.

Current Put/Call ratio at 2.67 vs. previous Put/Call ratio at 2.54 (5.12% change). Over the last six months, shares held by insiders declined by -1,139,710 (represents a change of -13.4% in insider ownership).

The stock is also a short squeeze candidate, with a short float at 19.7% (equivalent to 8.96 days of average volume).

6. Radiant Systems Inc. (RADS): Business Software & Services Industry. Market cap of $692.64M. The stock has gained 49.62% over the last year.

Current Put/Call ratio at 2.3 vs. previous Put/Call ratio at 2.05 (12.2% change). Over the last six months, shares held by insiders declined by -743,337 (represents a change of -11.6% in insider ownership).

7. Genesee & Wyoming Inc. (GWR): Railroads Industry. Market cap of $2.23B. The stock has gained 60.54% over the last year.

Current Put/Call ratio at 2.04 vs. previous Put/Call ratio at 1.29 (58.14% change). Over the last six months, shares held by insiders declined by -100,170 (represents a change of -10.2% in insider ownership).

8. Interpublic Group of Companies, Inc. (IPG): Advertising Agencies Industry. Market cap of $6.37B. The stock has had a good month, gaining 19.1%.

Current Put/Call ratio at 3.09 vs. previous Put/Call ratio at 0.3 (930.0% change). Over the last six months, shares held by insiders declined by -400,000 (represents a change of -10.1% in insider ownership).

Source: Bearish Options: 8 Stocks With Rising Put Volume Being Dumped by Insiders