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Looking to next week’s earnings roster, one idea for creating a watchlist is finding those with the most bearish options sentiment. An earnings surprise from one of these companies could change investor sentiment ...

To that end, we screened next week’s earnings reporters for the highest put/call ratios, indicating bearishness from the options market. The final list of 15 is below.

Can you see any of these companies releasing earnings surprises? Use this list as a starting-off point for your own analysis into this season’s earnings reporters.

List sorted by put/call ratio.

1. AMB Property Corp. (AMB): REIT. Market cap of $6.06B. Current put/call ratio at 2.82. Company to release earnings on 4/20/11. The stock has gained 38.67% over the last year.

2. Reynolds American Inc. (RAI): Cigarettes Industry. Market cap of $21.23B. Current put/call ratio at 1.86. Company to release earnings on 4/21/11. The stock has had a good month, gaining 12.06%.

3. Yum! Brands, Inc. (YUM): Restaurants Industry. Market cap of $23.69B. Current put/call ratio at 1.85. Company to release earnings on 4/20/11. The stock has gained 21.13% over the last year.

4. Capital One Financial Corp. (COF): Credit Services Industry. Market cap of $23.05B. Current put/call ratio at 1.84. Company to release earnings on 4/21/11. The stock might be undervalued at current levels, with a PEG ratio at 0.76, and P/FCF ratio at 2.99. After a solid performance over the last year, COF has pulled back during recent sessions. The stock is 4.15% below its SMA20 and 2.58% below its SMA50, but remains 14.29% above its SMA200. The stock has gained 16.08% over the last year.

5. Sensata Technologies Holding NV (ST): Electronic Equipment Industry. Market cap of $5.75B. Current put/call ratio at 1.73. Company to release earnings on 4/18/11. The stock has gained 71.21% over the last year.

6. Union Pacific Corporation (UNP): Railroads Industry. Market cap of $47.79B. Current put/call ratio at 1.65. Company to release earnings on 4/20/11. The stock has gained 30.51% over the last year.

7. Wimm-Bill-Dann Foods OJSC (WBD): Dairy Products Industry. Market cap of $5.59B. Current put/call ratio at 1.63. Company to release earnings on 4/18/11. The stock has gained 49.47% over the last year.

8. Vertex Pharmaceuticals Incorporated (VRTX): Drug Manufacturer. Market cap of $9.73B. Current put/call ratio at 1.58. Company to release earnings on 4/18/11. The stock has gained 19% over the last year.

9. International Business Machines Corp. (IBM): Diversified Computer Systems Industry. Market cap of $201.19B. Current put/call ratio at 1.50. Company to release earnings on 4/19/11. Risk-averse investors may appreciate that IBM has a relatively low correlation to the market (beta = 0.73). The stock has gained 28.64% over the last year.

10. EI DuPont de Nemours & Co. (DD): Conglomerates Industry. Market cap of $50.13B. Current put/call ratio at 1.49. Company to release earnings on 4/21/11. The stock offers a good dividend, and appears to have good liquidity to back it up--dividend yield at 3.03%, current ratio at 2.03, and quick ratio at 1.39. The stock has gained 45.22% over the last year.

11. Chipotle Mexican Grill, Inc. (CMG): Restaurants Industry. Market cap of $8.80B. Current put/call ratio at 1.47. Company to release earnings on 4/20/11. The stock has gained 128.06% over the last year.

12. Virgin Media, Inc. (VMED): CATV Systems Industry. Market cap of $8.84B. Current put/call ratio at 1.45. Company to release earnings on 4/20/11. The stock is a short squeeze candidate, with a short float at 8.36% (equivalent to 6.64 days of average volume). The stock has gained 58.85% over the last year.

13. Abbott Laboratories (ABT): Drug Manufacturer. Market cap of $78.93B. Current put/call ratio at 1.36. Company to release earnings on 4/20/11. ABT has a relatively low correlation to the market (beta = 0.29), which may be appealing to risk-averse investors. The stock has had a good month, gaining 10.22%.

14. Textron Inc. (TXT): Conglomerates Industry. Market cap of $7.25B. Current put/call ratio at 1.36. Company to release earnings on 4/20/11. This is a risky stock that is significantly more volatile than the overall market (beta = 2.75). The stock is a short squeeze candidate, with a short float at 7.78% (equivalent to 5.73 days of average volume). After a solid performance over the last year, TXT has pulled back during recent sessions. The stock is 3.1% below its SMA20 and 2.88% below its SMA50, but remains 15.59% above its SMA200. The stock has gained 20.17% over the last year.

15. Verizon Communications Inc. (VZ): Telecom Services. Market cap of $105.59B. Current put/call ratio at 1.35. Company to release earnings on 4/21/11. Risk-averse investors may appreciate that VZ has a relatively low correlation to the market (beta = 0.68). The stock has had a good month, gaining 11.37%.

*Options data sourced from Schaeffer’s, earnings date and all other data sourced from Finviz.

Source: 15 Companies Releasing Earnings Next Week With Highest Put/Call Ratios