U.S. stocks are modestly higher this afternoon, as traders take in -- and await -- big-cap earnings reports and a commodities implosion. Among the equities experiencing notable price swings today are e-commerce concerns eBay Inc (NASDAQ:EBAY) and Etsy Inc (NASDAQ:ETSY).

EBAY is enjoying a halo lift from officially independent Paypal Holdings Inc (NASDAQ:PYPL). The shares are shrugging off ratings downgrades from Moody's and Fitch, and were last seen 3.2% higher at $28.79, and just off a post-split best of $29.35 (the stock closed Friday at $66.29). In addition, shareholders are seemingly applauding eBay Inc's reported acquisition of second-hand clothing startup Twice.

Heading into today, EBAY's 14-day Relative Strength Index (RSI) stood at 74 -- in overbought territory. What's more, the stock's short-term options crowd is way more call-heavy than usual, as the security's Schaeffer's put/call open interest ratio (SOIR) sits at an annual low of 0.33.  In other words, near-term calls roughly triple their put counterparts.  

On the flip side, ETSY is falling from grace in a big way. The stock skyrocketed to a two-month high on Friday, thanks to an unexpected nod from Google Inc (NASDAQ:GOOGL), but was last seen 7.7% lower at $20.29. In fact, ETSY touched an intraday low of $18.92, landing on the short-sale restricted list. 

As such, it looks like bears -- and there are quite a few, as short interest represents six days' of pent-up buying demand, at ETSY's average pace of trading -- are turning to the options pits. Intraday put volume is accelerated relative to the norm, and has doubled call volume thus far. It looks like speculators are buying to open the August 20 put, expecting the shares to extend their retreat south of $20 through the close on Friday, Aug. 21, when the newly front-month options expire. 

Today's deflation may have been in the cards, though. In light of last week's GOOGL pop, Etsy Inc's 14-day RSI surged to 77. 

Stocks in Asia rallied on the heels of encouraging U.S. earnings -- and despite ongoing weakness in commodities. China's Shanghai Composite added 0.6% despite data showing foreign direct investments grew 8.3% during the first half, marking a slower pace of annual growth. Japan's Nikkei popped 0.9% on a weaker yen, with airlines catching a lift from lower fuel prices. Elsewhere, Hong Kong's Hang Seng and South Korea's Kospi each tacked on 0.5%.

European bourses are mixed as traders keep an eye trained on the latest round of quarterly results, as well as a potential bailout deal between Greece and its creditors. At last check, France's CAC 40 is up close to 0.1% and London's FTSE 100 has inched 0.04% higher, while the German DAX is down 0.05%.

Analysts are weighing in on social network giant Facebook Inc (NASDAQ:FB), home security specialist AlarmCom Hldg Inc (NASDAQ:ALRM), and drugmaker Anacor Pharmaceuticals Inc (NASDAQ:ANAC). Here's a quick roundup of today's bullish brokerage notes on FB, ALRM, and ANAC.

• It looks as if FB just can't be stopped. After closing at its loftiest perch to date yesterday following some upbeat analyst attention, the stock is poised to hit a fresh intraday peak out of today's gate, thanks to a pair of bullish brokerage notes. Specifically, BofA-Merrill Lynch added the security to its U.S. 1 Focus List, while Nomura boosted its price target to $115 from $96. Should Facebook Inc continue to add to its impressive 41% year-over-year advance, another round of price-target hikes could be on the horizon. Currently, the consensus 12-month price target for FB of $98.53 is within a chip shot of last night's settlement at $97.91.


• Wall Street newcomer ALRM received a bevy of bullish brokerage attention this morning. Chiming in on the stock was William Blair, Stifel, Raymond James, and BofAMerrill-Lynch, which all initiated coverage with the equivalent of a "buy" rating. What's more, the latter three set their price targets in the $21-$22 range, a premium to Monday's close at $18.78. Since going public on June 26, shares of AlarmCom Hldg Inc have added 17%, but appear ready to pare a portion of these gains in today's trading -- down 1.2% at last check.


• It's been a tremendous year for ANAC, which has surged nearly fivefold to trade at $148.13. In fact, the equity is on pace to notch a fresh record high today -- after tagging an all-time high of $150.41 on Monday -- after Goldman Sachs upped its outlook to "buy" from "neutral" and its price target to $195 from $60. The brokerage firm specifically cited confidence in the company's atopic dermatitis medication, and said it sees "ANAC as an even more attractive acquisition target with Crisaborole de-risked." Should Anacor Pharmaceuticals Inc continue its trek into uncharted territory, shorts may be forced to abandon their losing bets. Short interest accounts for 11.2% of the stock's available float, and it would take almost a week to cover these bearish bets, at ANAC's average daily pace of trading.

U.S. stocks are selling off sharply on a lackluster round of quarterly earnings. In company news, today's stocks to watch include motorcycle magnate Harley-Davidson Inc (NYSE:HOG), chipmaker QUALCOMM, Inc. (NASDAQ:QCOM), and real estate investment trust (REIT) Gaming and Leisure Properties Inc (NASDAQ:GLPI). 

• HOG is soaring this morning on a second-quarter earnings beat, up 3.1% at $56.61. However, on a year-to-date basis, the stock is still down 14%. Despite this unimpressive technical history, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been betting bullishly on Harley-Davidson Inc. During the last 10 weeks, speculators have bought to open more than two calls for every put. HOG's resultant call/put volume ratio of 2.14 ranks in the 96th percentile of its annual range.

• QCOM has advanced 2.2% to trade at $65.21, as the company is reportedly considering a strategic review -- which could result in the tech titan breaking up into two separate entities. Also, a separate report says QUALCOMM, Inc. is planning to lay off almost one-tenth of its employees. On a longer-term basis, the stock has struggled -- losing 12% year-to-date, and earlier this month touching a nearly two-year low of $61.48. Option traders have kept the faith. QCOM's 50-day ISE/CBOE/PHLX call/put volume ratio of 2.94 sits just 6 percentage points from a 12-month peak. Looking ahead, the firm will report earnings tomorrow afternoon.

• Finally, GLPI is buying Pinnacle Entertainment, Inc's (NYSE:PNK) real estate assets for roughly $4.8 billion in stock -- a deal that's been in the works for some time. Traders are applauding the moving, sending Gaming and Leisure Properties Inc 2.1% higher this morning. Longer term, the shares have been strong, adding 21% year-to-date to hover near $35.51, and today breaking out above recent resistance at their 10-day moving average. This is good news for option bulls. GLPI's 50-day ISE/CBOE/PHLX call/put volume ratio stands at an astronomical 42.59, outranking nine-tenths of comparable readings from the past year.

Analysts are weighing in on electric car concern Tesla Motors Inc (NASDAQ:TSLA), tech titan International Business Machines Corp. (NYSE:IBM), and specialty food producer United Natural Foods, Inc. (NASDAQ:UNFI). Here's a quick roundup of today's bearish brokerage notes on TSLA, IBM, and UNFI.

• UBS took a no-holds-barred approach to TSLA, cutting its outlook to "sell" from "neutral" and its price target to $210 from $220 -- territory not charted by the stock since late April. Specifically, the brokerage firm said the company's early energy storage orders are "misleading," and that the division will likely fall short of expectations. Technically speaking, TSLA has been a standout, up 22% year-to-date. In fact, the shares hit their highest point since their Sept. 4 record high of $291.42 yesterday, at $286.65, but were more recently seen lingering near $270.97. While option traders have been initiating long calls over puts at an accelerated clip, short sellers have been rolling the dice on a retreat. Short interest accounts for more than 24% of Tesla Motors Inc's available float, or 7.1 times the average daily trading volume.


• IBM has plunged 4.9% in early trading to linger near $164.71, after the company reported a 13th straight decline in quarterly revenue. Meanwhile, although the stock received a round of post-earnings price-target hikes -- including one from RBC to $170 from $160 -- J.P. Morgan Securities lowered its target price to $173 from $177. Longer term, International Business Machines Corp. is down 14% year-over-year, with recent rally attempts curtailed by IBM's 320-day moving average. Option traders, it seems, have been betting on Big Blue to snap out of its slump. The equity's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 1.64 ranks higher than 94% of all similar readings taken in the past year.


• UNFI plunged to a two-year low of $52.28 out of the gate -- and was last seen down 12.7% at $54.63, and on the short-sale restricted list. Prompting the day's sell-off is news the firm has terminated its contract with Albertsons Companies, Inc., as well as a subsequent round of bearish brokerage notes. Oppenheimer, for example, lowered its rating to "perform" from "outperform" and its price target to $60 from $70, while Canaccord Genuity cut its target price to $65 from $71. Today's negative price action is just more of the same for a stock that was down more than 19% this year heading into today's trading -- which has more than likely been pleasing short sellers. Short interest on United Natural Foods, Inc. surged 42.5% in the last two reporting periods, and now accounts for 12% of the equity's available float.

Analysts are weighing in today on drugmaker Calithera Biosciences Inc (NASDAQ:CALA), oil-and-gas name Chesapeake Energy Corporation (NYSE:CHK), and data defender Cyberark Software Ltd (NASDAQ:CYBR). Here's a quick roundup of today's brokerage notes on CALA, CHK, and CYBR. 

• CALA is exploding following an upgrade to "hold" from "sell" at Zacks. At last check, the shares were up nearly 20% at $9.36 -- though they've still lost more than half of their value in 2015. Looking more closely, the stock is poised to close atop its 50-day moving average for the first time since April 20 -- a trendline that rejected several previous rally attempts. Given Calithera Biosciences Inc's long-term technical troubles, it should come as little surprise that short sellers have been piling on. During the last two reporting periods, short interest soared 60%, and now makes up over one-fifth of CALA's total float.


• CHK riled shareholders today, announcing it will suspend dividend payments this quarter to save money, as the company struggles to cope with oil's collapse. Adding insult to injury, Global Hunter Securities slashed its price target on CHK shares to $7 from $10. Consequently, Chesapeake Energy Corporation is sitting on an afternoon deficit of 6.7% at $9.58, and earlier touched a six-year low of $9.40. Option buyers are rolling the dice on even more downside. During the last two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASAQ OMX PHLX (PHLX), CHK has racked up a put/call volume ratio of 2.49 -- just 4 percentage points from a 52-week peak. Echoing this, the stock's Schaeffer's put/call open interest ratio (SOIR) of 2.17 rests in the put-skewed 96th annual percentile.


• CYBR has risen 4.6% to trade at $57.51, thanks to a "buy" initiation and $70 price target at Dougherty & Company. The stock is one of several outperforming cybersecurity names, rallying 45% year-to-date. If this trend continues, CYBR could garner more positive analyst attention. At present, two-thirds of covering brokerage firms rate Cyberark Software Ltd a "hold" or worse, and its consensus 12-month price target of $60.80 is just a chip-shot away from its current perch on the charts.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Facebook Inc, AlarmCom Hldg Inc, and Anacor Pharmaceuticals Inc and Analyst Downgrades: Tesla Motors Inc, International Business Machines Corp., and United Natural Foods, Inc.

BlackBerry Ltd (NASDAQ:BBRY) is popping today -- up 2.9% at $7.90 -- on speculation the company handed out a round of pink slips. Today's positive price action has weekly option traders eyeing the $8 mark, with BBRY's weekly 7/24 and 7/31 8-strike calls seeing the most action thus far.

Drilling down, it appears these two groups of speculators are targeting the overhead area in decidedly different ways. The weekly 7/24 8-strike call appears to be a primary target of option buyers, meaning speculators expect BBRY to muscle atop $8 by Friday's close -- when the series expires. Meanwhile, it looks as if the weekly 7/31 8-strike call is being sold to open as traders are betting on $8 to serve as a short-term ceiling.

From a wider sentiment perspective, it's been call buyers who have been dominating BBRY's options arena. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 10-day call/put volume ratio of 7.17 ranks in the 95th annual percentile. Simply stated, calls have been bought to open over puts with more rapidity just 5% of the time within the past year.

Echoing this call-skewed backdrop is BBRY's Schaeffer's put/call open interest ratio (SOIR) of 0.34. Not only does this indicate call open interest triples put open interest among options set to expire in three months or less, but it sits below all comparable readings taken in the past year. In other words, speculative traders are more call-heavy now than they've been at any other point over the last 12 months.

Elsewhere on the Street, sentiment is tilted more toward the skeptical side. More than one-fifth of the security's float is sold short, representing 7.8 times BBRY's average daily pace of trading. Plus, nearly 82% of covering analysts maintain a "hold" or worse rating. Should BlackBerry Ltd (NASDAQ:BBRY) extend today's positive price action, a capitulation among short sellers and/or a round of upgrades could help fuel the stock's fire.

According to a Bloomberg report, St. Jude Medical, Inc. (NYSE:STJ) is holding talks about a potential purchase of Thoratec Corporation (NASDAQ:THOR). The buyout buzz has both healthcare stocks fresh off highs, and call volume accelerated.

Diving right in, THOR has soared 22.1% to trade at $59.58, and earlier notched an all-time peak of $62.05. The bullish gap also sent the stock's 30-day at-the-money implied volatility to a 52-week high of 60.7%, hinting at increased demand for short-term strikes. In fact, THOR calls are running at 27 times the average intraday rate, with potential buy-to-open activity transpiring at the out-of-the-money August and September 60 strikes. In other words, call buyers anticipate the shares will climb back above the round-number $60 level by the respective expiration dates.

One group that may be feeling the heat is short sellers. Thoratec Corporation's short interest ratio is 9.30, meaning it would take more than nine sessions -- at the stock's average trading volume -- to buy back the 3.6 million shorted shares.

Meanwhile, STJ -- which is slated to step up to the earnings plate bright and early tomorrow -- is sitting on a much narrower 0.7% gain, at $77.16. However, the stock did jump to a record high of $80.84 during the lunch hour -- perhaps explaining why calls are crossing at twice the normal afternoon rate, and over 10 times the pace of puts.

Looking more closely, St. Jude Medical, Inc. has seen potential buy-to-open action at its August 75 and 80 calls -- which are its two most active strikes. Long story short, these speculators are rolling the dice on an extended advance for the shares by the close on Friday, Aug. 21, when front-month options expire.

Lifelock Inc (NYSE:LOCK) was enjoying a modest lead for most of the day, until reports surfaced the Federal Trade Commission (FTC) plans to take action against the identity protection firm for allegedly violating the terms of a 2010 deceptive advertising settlement. After being halted several times since the news broke, LOCK was last seen down 49.4% at $8.13 -- after earlier hitting a two-year low of $7.70 -- while trading volume has soared to 14 times what's typically seen in a normal session.

The company has since issued a response, saying it disagrees "with the substance of the FTC's contentions and [is] prepared to take [the] case to court." Additionally, Lifelock asserted, "the claims raised by the FTC are all related to the past, not to current business practices."

While recent online assaults have been a boon for some cybersecurity firms, the same can't be said for LOCK. In fact, heading into today's session, the stock was sitting on a 13.2% year-to-date deficit, and had spent the majority of 2015 churning between $13 and $17.50.

In spite of this lackluster technical showing, call buyers have been active in LOCK's options pits of late. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 43.08 ranks in the 97th annual percentile. In other words, calls have been bought to open calls over puts at a faster clip just 3% of the time within the past year.

Outside of the options pits, though, short interest jumped 14.2% in the last two reporting periods, and now accounts for 16.9% of the stock's available float. In light of this, some of the recent call buying -- particularly at out-of-the-money strikes -- may be a result of shorts hedging against any unexpected upside.

Today, with the security on the short-sale restricted list, put volume has taken flight -- trading at 97 times the average intraday pace. In fact, the majority of LOCK's 10 most active options are puts, with speculators apparently purchasing new positions at the equity's August 7 and 8 strikes. If traders are indeed initiating fresh long positions, the goal is for Lifelock Inc (NYSE:LOCK) to move south of the strikes by expiration at the close on Friday, Aug. 21.

While gold remains near five-year-low territory, a number of equities that specialize in the precious metal are coming back from Monday's rocky session. The Direxion Daily Gold Miners Bull 3X Shares (NYSEARCA:NUGT) provides a nice snapshot of the action, popping 5.3% to trade at $3.79. By contrast, the Direxion Daily Gold Miners Index Bears 3X Shares (NYSEARCA:DUST) -- which surged over 32% yesterday -- is down 7.5% at $32.75 this afternoon.

Among specific gold stocks sporting solid late-day gains are Agnico Eagle Mines Ltd (USA) (NYSE:AEM) and Eldorado Gold Corp (USA) (NYSE:EGO). AEM is currently 2.3% higher at $23.24, cutting its year-to-date deficit to roughly 7%. Despite these longer-term struggles, there's plenty of optimism surrounding the shares. Ten analysts rate AEM a "buy" or better, while just two have doled out "hold" opinions -- with not a single "sell" to be found.

Along similar lines, AEM's Schaeffer's put/call open interest ratio (SOIR) checks in at 0.48 -- with call open interest more than doubling put open interest among options expiring in the next three months. Significantly, this SOIR is lower than almost three-quarters of comparable readings taken in the previous year, indicating a pronounced call-bias among short-term speculators.

Meanwhile, EGO has rallied 2.3% to trade at $3.30, but sports a steep year-to-date loss of 45.7%. In fact, the shares are just a dime above their six-year low of $3.20, skimmed yesterday.

Option traders have been extremely bullish toward EGO's in recent sessions, per data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). During the last two weeks, speculators have bought to open more than 3,500 calls versus just three puts.

It should be noted, though, that both Agnico Eagle Mines Ltd (NYSE:AEM) and Eldorado Gold Corp (NYSE:EGO) were both deep in oversold territory heading into today's session, meaning a near-term bounce may have been in the cards. Specifically, AEM sported a 14-day Relative Strength Index (RSI) of 20, while EGO's RSI was docked at 24.

Asian equities felt the heat from yesterday's round of weak U.S. earnings, and the ongoing sell-off in commodities. Japan's Nikkei fell 1.2%, with the tech sector pressured by a disappointing revenue forecast from Apple Inc. (NASDAQ:AAPL). Likewise, South Korea's Kospi and Hong Kong's Hang Seng slid 0.9% and 1%, respectively. Bucking the bearish trend was the Shanghai Composite, which managed a 0.2% gain -- its fifth consecutive daily win.

European markets are also feeling the weight of AAPL, with shares of ARM Holdings Inc plc (ADR) (NASDAQ:ARMH) and other suppliers swallowing steep losses. Meanwhile, Greece remains in the spotlight ahead of today's parliament vote on another set of reforms. At last check, the French CAC 40 is off 0.4%, Germany's DAX has surrendered 0.6%, and London's FTSE 100 is leading the pack lower, down 1.1%.

Analysts are weighing in on wearable camera maker GoPro, Inc. (NASDAQ:GPRO), semiconductor concern Ambarella Inc (NASDAQ:AMBA), and oil-and-gas issue Exxon Mobil Corporation (NYSE:XOM). Here's a quick roundup of today's bullish brokerage notes on GPRO, AMBA, and XOM.

• Since taking a sharp bounce off its 80-day moving average earlier this month, GPRO has tacked on 25.6% to trade at $62.04. The equity looks poised to extend this positive price action today, after the company's better-than-expected earnings report and upbeat current-quarter revenue forecast was met with a round of bullish brokerage attention. Specifically, the stock received price-target hikes from Wedbush (to $76), Raymond James (to $71), Barclays (to $71), Baird (to $70), and Dougherty (to $70). While today's projected price move is good news for a recent crop of option traders, it's bad news for short sellers. Short interest jumped 12.6% in the latest reporting period, and now accounts for nearly 18% of GoPro, Inc.'s available float. A capitulation from some of the weaker bearish hands could create tailwinds for GPRO going forward.


• AMBA -- which supplies GPRO with video processors -- saw its price target raised to $122 from $120 at Canaccord Genuity overnight, the second such boost the brokerage firm has issued in as many weeks. The stock is modestly higher in electronic trading -- and on track to add to its impressive 133% year-to-date advance -- which could prompt more analysts to follow in Canaccord Genuity's bullish footsteps. Currently, 45.5% of covering analysts maintain a lukewarm "hold" rating on the outperformer, while the average 12-month price target of $105.27 stands at a discount to Tuesday's settlement at $118.18. Ambarella Inc is tentatively slated to unveil its own quarterly results in early September.


• Despite crude oil's recent struggles, Goldman Sachs raised XOM to "conviction buy" from "buy." On the charts, the stock has been tracking crude's slide -- shedding 22% since hitting a record high of $104.76 last July. In fact, the security tagged a three-year low of $81.43 yesterday, before settling at $81.66. Option traders, meanwhile, have been eyeing more downside, per Exxon Mobil Corporation's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 1.84 -- in the 83rd annual percentile. Simply stated, puts have been bought to open over calls at a faster-than-usual clip in recent months.

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