Stocks quoted in this article:
The major indexes are swimming in the red today, as optimism regarding Mario Draghi's euro-zone promises evaporated after the widely anticipated European Central Bank (ECB) meeting. The downbeat market atmosphere has also led quite a few stocks into new-low territory. Presently, the New York Stock Exchange (NYSE) has 53 stocks at new bottoms, while the Nasdaq shows 69 at fresh new lows. Among the stocks tagging 52-week lows in today's session are Abercrombie & Fitch Co. (NYSE:ANF - 28.86), Sony Corporation (NYSE:SNE - 10.97), and Atmel Corporation (NASDAQ:ATML - 5.53).
- Shares of ANF have declined more than 15% today to touch a new low of $28.64, extending their year-over-year loss to roughly 59%. The apparel retailer scored a slew of bearish brokerage notes this morning, after estimating that its second-quarter profit would arrive below analysts' expectations, and downwardly revising its full-year guidance. Despite the stock's struggles, the Schaeffer's put/call open interest ratio (SOIR) for ANF stands at 0.46, signaling that calls more than double puts among options set to expire over the next three months. This ratio is just five percentage points above an annual nadir, meaning that near-term options players have rarely been more call-heavy toward the stock.
- SNE is also suffering an earnings-related setback today, falling 9.6% to a new bottom of $10.91, after reporting that its quarterly operating profit nosedived 77% to a weaker-than-predicted $80.27 million. Over the past 52 weeks, the stock has shed more than 56%, so it's no surprise that SNE puts currently trump calls. In fact, data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 10-day put/call volume ratio of 7.16, indicating that traders have bought to open more than seven puts for every call during the past 10 sessions. This ratio arrives in the 91st annual percentile, reflecting a much healthier-than-usual appetite for puts over calls.