Analysts are weighing in on discount travel service Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), burger giant Shake Shack Inc (NYSE:SHAK), and retailer J C Penney Company Inc (NYSE:JCP). Here's a quick roundup of today's bullish brokerage notes on CTRP, SHAK, and JCP.

• CTRP is up 13.3% out of the gate -- and already hit a record high of $75.68 -- after the firm's stronger-than-forecast first-quarter earnings was met with a round of upbeat analyst attention. Specifically, Oppenheimer boosted its outlook to "outperform" from "perform," Stifel raised the stock to "buy" from "hold," and Brean Capital increased its price target to $96 from $70. Today's projected price move just echoes the equity's longer-term technical strength, with Ctrip.com International, Ltd. up nearly 63% year-to-date to trade at $74.08. Option traders, meanwhile, have been initiating long puts over calls at a faster-than-usual clip in recent months. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CTRP's 50-day put/call volume ratio of 0.83 rests just 5 percentage points from a 52-week peak.

• SHAK unveiled standout first-quarter results and upwardly revised its full-year revenue forecast -- sending the shares up 9.5% in early trading. Adding to the buzz is a price-target hike to $60 from $40 at Jefferies, which cited Shake Shack Inc's "supercharged growth." On the charts, the stock has put in a strong performance since going public in late January, tacking on more than 59%. However, there is plenty of skepticism surrounding the stock. Short interest accounts for almost 41% of the equity's float, and all six analysts covering SHAK maintain a tepid "hold" recommendation. Plus, the average 12-month price target of $37 sits well below the equity's current perch at $74.86. Should the shares maintain their upward momentum, a round of short-covering and/or some additional bullish brokerage notes could translate into tailwinds for SHAK.

• UBS upped its price target on JCP to $7 from $5, after the company posted a narrower-than-expected first-quarter loss and raised its annual gross margin goal. Unfortunately for Wednesday's batch of option bulls, the shares do not appear ready to capitalize, and are down more than 5% at $8.27. Heading into today's session, the stock was gaining ground on the charts, up more than 34% year-to-date. Short sellers have maintained their grip, though, and have shorted 32% of JCP's total available float. Elsewhere on the fundamental front, J C Penney Company Inc will host its annual shareholder meeting tomorrow.

"Madden 16" -- the wildly popular NFL video game made by Electronic Arts Inc. (NASDAQ:EA) -- has announced its cover model: New York Giants wide receiver Odell Beckham Jr. At age 22, he'll be the youngest player ever to represent the Madden franchise.

The honor is well-deserved. Beckham -- who beat out Patriots tight end Rob Gronkowski -- broke out during his rookie season, catching more than 90 passes for over 1,300 yards and 12 touchdowns (in just 12 games!). The wideout was also propelled into the spotlight following this sick one-handed catch.

Beckham will now try to build on the success of his rookie season, and avoid a sophomore slump. On top of that, he'll need to avoid the so-called "Madden curse." If you're unfamiliar, players that appear on the game's cover have a really bad track record, marred by injury and underperformance.

A few examples worth considering:

• In 2001, just months after making the cover following a 4,000-yard season, Vikings quarterback Daunte Culpepper shredded his knee and was lost for the year. He came back the following season, but was a shadow of his former self.


• Following a huge 2005 season, Seahawks running back Shaun Alexander won the Madden cover vote. The subsequent year, he broke his foot; the year after that, he suffered wrist, knee, and ankle injuries.


• Browns running back Peyton Hillis had a breakout 2010 season and surprisingly won the vote to become Madden's featured athlete. However, his 2011 campaign was marred by a contract dispute, strep throat, and a hamstring injury.

Clearly, Beckham has cause for concern -- the curse is real. However, shares of Madden's maker -- EA -- are far from cursed. The shares have surged 32% year-to-date to trade at $62.22, and are within striking distance of their 10-year high of $63.46, touched on Monday.

Electronic Arts Inc. (NASDAQ:EA) could also benefit from a capitulation among skeptics. Over 16 million shares are sold short, which would take more than a week to buy back, at the stock's typical daily trading levels. In other words, EA could be on the verge of a short-covering rally.

Analysts are weighing in today on mobile device concern BlackBerry Ltd (NASDAQ:BBRY), semiconductor manufacturer Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM), and integrated circuit specialist Linear Technology Corporation (NASDAQ:LLTC). Here's a quick look at today's brokerage notes on BBRY, TSEM, and LLTC. 

• Cowen and Company raised its price target on BBRY to $11 from $10 while underscoring its "market perform" rating, amid lingering rumors that the company is a potential takeover target for Apple Inc. (NASDAQ:AAPL). Today, the shares of BlackBerry Ltd are 0.4% higher at $10.30, and since hitting an annual low of $8.59 on March 31, are up over 20%. However, options traders have been picking up puts at a faster-than-usual clip, as BBRY's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.46 is higher than 86% of all similar readings from the past year. The brokerage bunch has been skeptical of the equity as well, as about 84% of covering analysts rate it a "hold" or worse. Meanwhile, short interest declined by 11.8% during the last reporting period, but still accounts for 17% of the stock's available float. It would take these bettors nearly 11 sessions to cover their positions, at average trading volumes. Should BBRY extend its recent rebound, a short squeeze could add fuel to the fire.

• The shares of TSEM are 4.7% higher at $15.99, after the company's first-quarter earnings and current-quarter guidance surpassed expectations. Reacting was Ascendiant Capital, which raised its price target on the stock to $28 from $24 -- in five-year-high territory -- while reiterating its "buy" opinion. Technically speaking, today's positive price action is more of the same for Tower Semiconductor Ltd., as the shares are up 85.9% year-over-year. Accordingly, traders have favored calls over puts in the options pits -- over the past 10 days at the ISE, CBOE, and PHLX, 19.59 TSEM calls have been bought to open for every put.  

• J.P. Morgan Securities upgraded LLTC to "neutral" from "underweight" and raised its price target to $48 from $40, sending the shares 1.6% higher to $46.79. Looking back, Linear Technology Corporation has been fairly range-bound in 2015, with the shares trading between $45 and $49. Year-to-date, though, the shares are up 2.6%. Options traders have been betting on a pullback, as LLTC's 10-day ISE/CBOE/PHLX put/call volume ratio of 3.26 stands in the 94th annual percentile. Simply stated, puts have only been bought to open with more rapidity 6% of the time over the past year. Short sellers have taken a shine to the security as well, as short interest surged by 9.4% during the last reporting period. It now comprises 5.5% of LLTC's available float, which would take five sessions to buy back, at average trading volumes.

Next week's economic docket is highlighted by the Federal Open Market Committee's (FOMC) latest meeting minutes, which come out on Wednesday. Additionally, housing data is in the limelight, as housing starts, existing home sales, and the National Association of Home Builders (NAHB) housing market index are slated for release. What's more, home improvement stores Home Depot Inc (NYSE:HD) and Lowe's Companies, Inc. (NYSE:LOW) will report, along with retailers Wal-Mart Stores, Inc. (NYSE:WMT), Target Corporation (NYSE:TGT), and Best Buy Co Inc (NYSE:BBY); tech concerns Hewlett-Packard Company (NYSE:HPQ), Marvell Technology Group Ltd. (NASDAQ:MRVL), and Salesforce.com, inc. (NYSE:CRM);  and China-based firms Qihoo 360 Technology Co Ltd (NYSE:QIHU), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) and Trina Solar Limited (ADR) (NYSE:TSL). 

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

Monday 5/18
The week starts off with the National Association of Home Builders (NAHB) housing market index. For earnings, we'll see Agilent Technologies (A), JA Solar (JASO), Take-Two Interactive (TTWO), and Urban Outfitters (URBN). 

Tuesday 5/19
Housing starts is the lone report on Tuesday's docket. Revealing earnings will be Home Depot (HD), Wal-Mart Stores (WMT), Analog Devices (ADI), Cheetah Mobile (CMCM), Dick's Sporting Goods (DKS), Etsy (ETSY), NQ Mobile (NQ), Qihoo 360 Technology (QIHU), and TJX Companies (TJX).

Wednesday 5/20
On Wednesday, the minutes from the Federal Open Market Committee's (FOMC) latest meeting will be released, along with weekly crude inventories. Stepping up for earnings will be American Eagle Outfitters (AEO), Hormel Foods (HRL), L Brands (LB), Lowe's (LOW), NetApp (NTAP), Salesforce.com (CRM), Shoe Carnival (SCVL), SouFun (SFUN), Staples (SPLS), Target (TGT), and Williams-Sonoma (WSM). 

Thursday 5/21
Weekly jobless claims come out on Thursday, plus the Philadelphia Fed manufacturing survey and existing home sales. Advance Auto Parts (AAP), Aeropostle (ARO), Aruba Networks (ARUN), Best Buy (BBY), Buckle (BKE), Dollar Tree (DLTR), Gap (GPS), Hewlett-Packard (HPQ), Marvell Technology Group (MRVL), Ross Stores (ROST), and Trina Solar (TSL) will show their earnings power.  

Friday 5/22
Closing out the week is the consumer price index (CPI) and Markit's flash purchasing managers manufacturing index (PMI). ANN Inc (ANN), Campbell Soup (CPB), Deere & Company (DE), and Foot Locker (FL) will release earnings. 

U.S. markets are poised to end the week on a high note, following dovish remarks from European Central Bank (ECB) President Mario Draghi. In company news, today's stocks to watch include streaming video giant Netflix, Inc. (NASDAQ:NFLX), chicken champion El Pollo Loco Holdings Inc (NASDAQ:LOCO), and drugmaker Pernix Therapeutics Holdings Inc (NASDAQ:PTX).

• NFLX is reportedly in discussions with several potential partners -- including Wasu Media Holding -- to throw its hat into China's streaming video ring. Netflix, Inc. supposedly needs a collaborator that possesses licenses for mobile devices, PCs, and other platforms. This news is boosting the stock ahead of the bell, as the shares were last seen 3.6% higher -- ready to add to their 72% year-to-date lead. In fact, NFLX is on pace to take out its record high of $594 -- touched as recently as Monday -- at the open. Given the equity's phenomenal technical track record, it may be surprising to hear that more than one-third of covering analysts still maintain "hold" or worse recommendations. What's more, NFLX's consensus 12-month price target of $574.05 stands at a discount to Thursday's close at $586.85. This could pave the way for a round of bullish brokerage notes.
  

• LOCO is in trouble ahead of the open, down more than 13% due to a disappointing outlook and same-store sales. On the other hand, the restaurant chain's quarterly earnings and revenue came in above estimates. This represents quite the reversal in El Pollo Loco Holdings Inc's technical fortunes, as the shares have rallied 45.5% year-to-date to trade at $29.06. Meanwhile, short sellers are looking forward to the expected gap lower. Nearly 30% of LOCO's float is sold short, which would take more than a week to cover, at typical daily trading levels.
  

• PTX is up 8.2% in electronic trading, after the Food and Drug Administration gave a green light to the company's Treximet tablet for the treatment of migraines in children. The stock could use the help, as it's lost 31.2% year-to-date to rest at $6.46. Given these losses, it's no shock to see that one-quarter of Pernix Therapeutics Holdings Inc's float is dedicated to short interest. What is surprising is the fact that 80% of covering analysts rate PTX a  "strong buy."
  

Analysts are weighing in today on semiconductor firm Micron Technology, Inc. (NASDAQ:MU), coffee behemoth Keurig Green Mountain Inc (NASDAQ:GMCR), and Candy Crush parent King Digital Entertainment PLC (NYSE:KING). Here's a quick roundup of today's bearish brokerage notes on MU, GMCR, and KING. 

• Nomura cut its price target on MU to $25 from $28 and reiterated its "neutral" rating, sending the shares 1% lower ahead of the bell. The price-target cut comes as little surprise, considering the shares of Micron Technology, Inc. are down 23.8% year-to-date to close Thursday at $26.69. Furthermore, the stock is trading well below its 80-day moving average, which has served as a ceiling for most of 2015. However, options traders have shown a preference for calls over puts lately; over the last 50 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 2.63 MU calls have been bought to open for every put. The brokerage bunch is optimistic on the security as well, with roughly 81% of covering analysts rating it a "buy" or "strong buy." Should MU extend its slump, more bearish analyst attention could exacerbate selling pressure on the stock.

• GMCR said its new cold brewing coffee machine, "Keurig Kold," will not be released in all of its retail stores until 2016 -- later than investors expected -- sending the shares 6.8% lower in pre-market trading. In response, UBS slashed its price target on Keurig Green Mountain Inc to $114 from $120, but underscored its "buy" rating. Technically speaking, GMCR has been trending downwards, with the shares shedding 22.2% year-to-date to close yesterday at $103.07. Furthermore, the company lowered its full-year forecast just last week, sending the stock to an annual low of $95.02.  Accordingly, puts have been prominent in the options pits, as GMCR's 10-day ISE/CBOE/PHLX put/call volume ratio of 0.92 is higher than 79% of all comparable readings from the past year. 

• Despite reporting a first-quarter earnings beat, the shares of KING were last seen 7.8% lower in electronic trading, after the company's projected current-quarter gross bookings fell short of estimates. Reacting were no fewer than three brokerage firms, which all lowered their price-targets on the equity. Specifically, Stifel cut its target to $19, Deutsche Bank decreased its target to $16, and Wedbush slashed its target to $21. On the charts, KING has been underwhelming, with the shares down more than 20% from their March 2014 IPO. Not surprisingly, options traders have shown a preference for puts lately, as King Digital Entertainment plc's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.43 stands in the 91st annual percentile. Meanwhile, short interest declined by 20.3% over the last two reporting periods, but still accounts for a lofty 22.1% of the stock's available float. It would take these bettors approximately 14 sessions to cover their positions, at average trading volumes. 

Analysts are weighing in on fast-food giant Yum! Brands, Inc. (NYSE:YUM), package delivery specialist United Parcel Service, Inc. (NYSE:UPS), and gaming guru Glu Mobile Inc. (NASDAQ:GLUU). Here's a quick roundup of today's bullish brokerage notes on YUM, UPS, and GLUU.

• YUM has tacked on an impressive 13.2% over the past two months to trade at $90.02 -- and hit a record high of $94.13 on May 4 -- thanks to a well-received turn in the earnings confessional and reports that Daniel Loeb's Third Point LLC took a stake in the company. The stock appears ready to add to these gains today, after J.P. Morgan Securities raised its rating to "overweight" from "neutral" and its price target to $108 from $83. Specifically, the brokerage firm said it believes Yum! Brands, Inc. has not been "defensive against activist investors' recent points, and in fact seems to welcome ideas that can drive short and long term shareholder value." Option traders have been optimistic about YUM, as well, and at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 50-day call/put volume ratio of 2.62 ranks in the 96th annual percentile.

• Goldman Sachs boosted UPS to "buy" from "neutral," and increased its price target on the shares to $119 -- representing expected upside of 18.2% to last night's close at $100.67, and a trek into uncharted territory. On the charts, the stock has struggled beneath its 200-day moving average since gapping lower in late January on the back of weak guidance -- just one day after the shares hit an all-time peak of $114.40. In the options pits, short-term speculators are more put-heavy than usual, as evidenced by the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.93, which rests just 3 percentage points below a 52-week peak. In the front-month series -- which expires at tonight's close -- peak put open interest is found at the May 100 strike.

• GLUU saw its price target raised to $9 from $8 at Canaccord Genuity this morning. Not only does this new target sit more than 39% above Thursday's settlement at $6.47, but it represents a move to levels not seen since November 2007. Wall Street is responding well to the bullish brokerage note, with shares of GLUU up nearly 2% in electronic trading -- and ready to add to their already impressive 66% year-to-date advance. Widening the scope reveals today's upbeat analyst attention is nothing new for the stock. All but one of the eight analysts covering Glu Mobile Inc. maintain a "strong buy" rating, while the average 12-month price target of $7.74 stands at a nearly 20% premium to current trading levels.

Put buying has been picking up speed in 3D Systems Corporation's (NYSE:DDD) options pits in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day put/call volume ratio has jumped to 0.78 from 0.62 over the past two weeks. What's more, the current ratio ranks just 2 percentage points from an annual peak.

In the soon-to-be front-month series, peak put open interest can be found at the deep in-the-money June 40 strike, where 12,736 contracts are currently in residence. It appears the majority of these options have been bought to open -- including 5,000 new positions that were purchased yesterday at the ISE, CBOE, and PHLX -- as traders bet on the stock to extend its retreat below $40 over the next five weeks.

The skepticism toward DDD is seen elsewhere on the Street. For starters, short interest edged higher in the latest reporting period, and now accounts for 35.3% of the equity's available float -- representing 10.1 times DDD's average daily trading volume.

Elsewhere, roughly 78% of analysts covering the shares maintain a "hold" or worse recommendation. Plus, the average 12-month price target of $26.16 stands at a 23.7% premium to current trading levels.

On the charts, 3D Systems Corporation (NYSE:DDD) has struggled, shedding nearly 36% year-to-date. Today, the shares are off 4% at $21.13 -- and earlier hit a two-year low of $21.05 -- after the company announced it David Styka will replace Ted Hull as chief financial officer, effective at today's close of business.

Analysts are weighing in today on hotelier China Lodging Group, Ltd (ADR) (NASDAQ:HTHT), biotech issue Horizon Pharma PLC (NASDAQ:HZNP), and electronics retailer hhgregg, Inc. (NYSE:HGG). Here's a quick look at today's brokerage notes on HTHT, HZNP, and HGG. 

• Netflix, Inc. (NASDAQ:NFLX) isn't the only company making headlines out of China. HTHT is among the top percentage gainers on the Nasdaq today, up 19.1% at $24.52, thanks to an upbeat earnings report and subsequent analyst attention. Specifically, HTHT was gifted an upgrade to "overweight" and a price-target boost to $25 from J.P. Morgan Securities. The brokerage said China Lodging Group, Ltd "has done a good job growing its defensive [managed and franchised] business." Today's rally -- which has the stock sitting north of its 200-day moving average for just the second time since early January -- might be taking some option traders off guard. On the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day put/call volume ratio sits at 4.67. What's more, the equity's Schaeffer's put/call open interest ratio (SOIR) rests at an annual high of 0.77, indicating that short-term traders haven't been more put-biased during the past year.

• HZNP is up 2.5% at $29.10, after Jefferies initiated coverage with a "buy" endorsement and a $37 price target -- well into uncharted territory for the shares. So far in 2015, Horizon Pharma PLC has skyrocketed nearly 126%, so it's not entirely surprising to find that all six covering analysts consider the equity a "strong buy." Plus, the stock's average 12-month price target is docked at $37.14, implying expected upside of 27.6% to HZNP's current price.

• HGG is nearing six-year-low territory, down 10.1% at $4.74, due to an uninspiring turn in the earnings confessional. Adding salt to the stock's wounds, Janney cut its price target on the security to $5 from $7. Prior to today, hhgregg, Inc. wasn't much to write home about. The stock has shed more than 40% over the past year, pressured beneath its 10-month moving average. Meanwhile, short interest accounts for more than a third of HGG's total available float, representing a whopping 34 sessions' worth of pent-up buying demand, at the equity's average pace of trading. Today, however, HGG has been relegated to the short-sale restricted list.

Analysts are weighing in today on wearable camera maker GoPro Inc (NASDAQ:GPRO), cloud concern Akamai Technologies, Inc. (NASDAQ:AKAM), and pharmaceutical issue Biodel Inc (NASDAQ:BIOD). Here's a quick roundup of today's bullish brokerage notes on GPRO, AKAM, and BIOD.

• GPRO is sitting slightly higher in electronic trading, after Oppenheimer boosted its rating on the stock to "perform" from "underperform." The shares have been trending higher in recent weeks -- assisted by an earnings beat and support from their 20-day moving average -- rallying 35% since hitting an early March low of $37.13, to settle at $50.09 on Friday. Should this trend continue, GoPro Inc could benefit from short-covering activity, as 39% of the stock's float is sold short.


• AKAM saw its price target raised to $53 from $51 at Goldman Sachs. Although the new target still represents a discount to AKAM's current price of $77.96, the boost is well-deserved, considering the equity has advanced more than 46% year-over-year and notched a 14-year high of $78.44 on Thursday. On the options front, short-term speculators have never been as call-focused during the past year as they are now. Akamai Technologies, Inc. sports a Schaeffer's put/call open interest ratio (SOIR) of 0.46, which ranks lower than any other comparable reading taken in the last 12 months.


• Roth initiated coverage on BIOD with a "buy" rating and $5 price target -- more than four times the stock's current perch at $1.13. As such, the shares are up more than 10% ahead of the bell. Longer term, however, Biodel Inc is down 15% in 2015. With the shares sitting in low single digits, BIOD's SOIR sits at an annual low of 0.02, indicating call open interest outweighs put open interest by an extreme margin, looking back at the last 12 months' of data.

Analysts are weighing in on business review name Yelp Inc (NYSE:YELP), casino concern Las Vegas Sands Corp. (NYSE:LVS), and oil-and-gas issue Chevron Corporation (NYSE:CVX). Here's a quick roundup of today's bearish brokerage notes on YELP, LVS, and CVX.

• Piper Jaffray downgraded YELP to "neutral" from "overweight," and hacked its price target on the shares to $46 from $70 -- sending the stock almost 2% lower in electronic trading. Technically speaking, the security has been in a long-term downtrend, shedding 46% since hitting an annual high of $86.88 in early September. Ushering YELP lower has been its 80- and 120-day moving averages -- the latter of which quickly rejected the stock's M&A inspired rally earlier this month. Should the shares continue to struggle, another round of bearish brokerage notes could be on the horizon. More than half of analysts covering Yelp Inc maintain a "buy" or better rating, while the average 12-month price target of $54.73 stands at a 16.7% premium to Friday's close at $46.89. Meanwhile, YELP is slated to host its annual shareholders meeting this Wednesday.

• Goldman Sachs weighed in on a number of casino names today, and for LVS, this meant a downgrade to "neutral" from "buy" and a price-target cut to $52 from $60. The stock has been losing ground on the charts for some time now -- most recently due to disappointing earnings from one of its sector peers -- down more than 30% year-over-year to trade at $50.97. In the options pits, speculators have shown a preference for puts over calls among options set to expire in three months or less. Specifically, Las Vegas Sands Corp.'s Schaeffer's put/call open interest ratio (SOIR) of 1.60 ranks in the 92nd percentile of its annual range.

• The energy sector is also in Goldman Sachs' crosshairs today, with the brokerage firm slashing its rating on CVX to "sell" from "neutral." In addition, the analysts reduced their price target to $99 from $111. As such, the shares are trading lower ahead of the bell, and are on track to test their 80-day moving average -- a trendline that has served as support since mid-April. Since topping out at a record peak of $135.10 last July, CVX has surrendered 20%, and closed last week at $108.03. Option traders, in the meantime, have been gambling on more downside in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Chevron Corporation's 10-day put/call volume ratio of 1.15 rests higher than 64% of all similar readings taken in the past year.

U.S. stocks are lower this morning, ahead of the latest NAHB's housing market index. Among the equities in focus are semiconductor concern Altera Corporation (NASDAQ:ALTR), women's apparel retailer Ann Inc (NYSE:ANN), and biopharmaceutical firm Eleven Biotherapeutics Inc (NASDAQ:EBIO).

• ALTR is up 5.7% at $46.93, after the New York Post reported that the company is once again in M&A talks with Intel Corporation (NASDAQ:INTC). ALTR shares have outdone the S&P 500 Index (SPX) by over 22 percentage points in the last three months, but options traders have continued to buy puts over calls. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Altera Corporation's 10-day put/call volume ratio of 2.79 is only 5 percentage points from an annual high. Similar sentiment is seen among analysts, where 16 of 21 brokerage firms say ALTR is a "hold" or worse. Moreover, the equity's average 12-month price target of $39.64 sits at a discount to current levels.


• ANN is up 21.3% at $46.95, as the company is being purchased by Ascena Retail Group Inc (NASDAQ:ASNA) in a $2.16 billion cash-and-stock deal. Shares of the takeover target have been struggling somewhat on the charts recently, underperforming the SPX by almost 9 percentage points during the past two months. This deal is likely pleasing Ann Inc's option traders. The security's 50-day ISE/CBOE/PHLX call/put volume ratio of 2.99 is only nine percentage points from an annual bullish peak.


• Things aren't looking too good for EBIO, however, as the equity is 73% lower at $3.28, after the firm announced its dry eye disease drug failed to achieve primary endpoints in a Phase III study. This should at least make short sellers happy, considering 12% of Eleven Biotherapeutics Inc's float is sold short, representing six sessions' of trading, at normal daily volumes. Coming into today, EBIO was just 0.8% above its year-to-date breakeven mark.