As investors await the kickoff of the second-quarter earnings season, the major indexes have drifted into the red today, but only a modest number of stocks have followed suit. Presently, the New York Stock Exchange (NYSE) has just 15 securities at new lows, while the Nasdaq shows 20 at new bottoms. Among the stocks tagging 52-week lows in today's session are Juniper Networks, Inc. (NYSE:JNPR - 15.18), Riverbed Technology, Inc. (NASDAQ:RVBD - 14.40), and Weight Watchers International, Inc. (NYSE:WTW - 47.73).

• Shares of JNPR are off by around 2.6% today to tag a new low of $15.08, after the equity had its price target cut to $21 from $23 at RBC this morning. However, although the stock is sitting on a 52-week loss of close to 53%, calls remain the options of choice on the network infrastructure provider. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows a 10-day call/put volume ratio of 8.61, indicating that traders have bought to open more than eight calls for every put during the past two weeks. This ratio arrives in the 84th annual percentile, meaning traders have been scooping up calls over puts at an accelerated clip.
  
  
• Despite a lack of notable headlines, RVBD has extended Friday's decline, sinking to a new bottom of $14.21 earlier today. With a year-over-year decline of about 65%, it's no surprise that near-term options players prefer puts over calls. The Schaeffer's put/call open interest ratio (SOIR) of 1.00 registers in the 94th percentile of its annual range -- meaning that short-term traders have rarely been more put heavy toward the security. Meanwhile, just 14 out of the 34 analysts following the tech concern have issued a "strong buy" endorsement, compared to 19 lukewarm "hold" recommendations, and one "strong sell" suggestion.
  
  
• After being cut to "neutral" from "buy" at Bank of America-Merrill Lynch on Friday, WTW touched a new low of $46.88 today -- deepening its 12-month drop to nearly 39%. However, some optimism still lingers toward the equity, as traders on the ISE/CBOE/PHLX have bought to open 1.55 calls for every put during the past 10 sessions. This bullishly skewed ratio ranks in the 73rd percentile of its annual range, reflecting a healthier-than-usual appetite for calls over puts. What's more, Thomson Reuters pegs the weight-loss guru's average 12-month price target at $73.50 -- representing a hefty premium to its current price, and leaving it vulnerable to price-target cuts down the road.