Food stock Amira Nature Foods Ltd (NYSE:ANFI) has been all over the charts during the past 12 months. In mid-July, the shares shot to an annual high of $14.56, only to fall to an all-time low of $2.51 just a month later. More recently, ANFI jumped above $14 last month, but again slid precipitously following this near-term peak. This has resulted in a 14-day Relative Strength Index (RSI) of 28 -- meaning the stock has technically been oversold. 

Today, the shares are on the way back up, rallying a remarkable 27.7% to $10.40 -- making it the leading gainer on the New York Stock Exchange -- thanks to news the company plans to release interim financials this month. ANFI is now back in the black on a year-to-date basis, which is good news for options traders. 

Specifically, the stock's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands at 11.91, putting it in the 78th percentile of its annual range -- albeit amid extremely light volume. So not only have almost 12 calls been bought to open for every put, but this reading also displays a greater-than-usual appetite for ANFI calls relative to puts. 

However, ANFI is heavily shorted, with a short-interest ratio of 5.10. With this being the case, it's possible recent call buyers are short sellers trying to protect themselves from an unexpected surge in the shares -- like we're seeing today. 

In late-afternoon trading, both calls and puts are crossing at twice the normal intraday pace. The most popular option is the May 10 put, and if traders are buying to open positions, they're betting on Amira Nature Foods Ltd (NYSE:ANFI) falling back into single digits by the close on Friday, May 20, when the back-month options expire. 

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Analysts are weighing in on oil-and-gas stocks Schlumberger Limited (NYSE:SLB), Halliburton Company (NYSE:HAL), and Apache Corporation (NYSE:APA), as oil prices catch fire. Here's a quick roundup of today's brokerage notes on SLB, HAL, and APA.

• SLB is 2.6% higher at $73.87, after Nomura initiated coverage on the stock with a "buy" rating and SocGen raised its price target to $90 from $77 -- territory not charted since mid-2015. Schlumberger Limited has been on the mend since touching a three-year low of $59.60 in January, and has brought its year-to-date gain to 6%. Short interest on the security has been slowly falling, but still represents 6.5 times SLB's average daily volume. And at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), long puts have significantly outpaced long calls over the past 50 sessions, indicating plenty of pessimism that could still unravel as the stock moves higher with oil.

• HAL also received a fresh "buy" rating from Nomura and a price-target hike to $42 from $36 at SocGen, while Jefferies raised its target on the stock to $43. Halliburton Company has been trading higher all day, on news that its deal with Baker Hughes Incorporated (NYSE:BHI) may be blocked, and was last seen up 3.8% at $37.63 -- on pace to topple its 200-day moving average for the first time since October 2014. The stock has added 7% this week, likely to the delight of option bulls. The equity's 10-day call/put volume ratio at the ISE, CBOE, and PHLX ranks higher than 95% of the past year's readings, at 3.14. 

• Wells Fargo upgraded APA to "outperform" from "market perform," boosting the shares 3.3% to $50.82. Apache Corporation is up 14% in 2016, but could stand to benefit from more bullish attention from the brokerage bunch. Of the 16 analysts following APA, 12 currently call it a "hold" or "sell." The equity recently bucked its trend as a post-Easter buy, but the shares have outperformed the S&P 500 Index (SPX) by nearly 32 percentage points over the last three months. What's more, APA has spent the five weeks firmly above a foothold at its 200-day moving average.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Exxon Mobil Corporation, Freeport-McMoRan Inc, and Yamana Gold Inc. and Analyst Downgrades: United States Steel Corporation, LinkedIn Corp, and Baker Hughes Incorporated​.

Stocks in Asia closed mixed today, as investors prepare for the start of earnings season for U.S. companies. In China, stocks managed solid gains, thanks to well-received inflation data, with the consumer price index (CPI) rising just 2.3% year-over-year in March. Amid hope for extended monetary easing -- and thanks to bullish comments from a prominent Chinese analyst -- the Shanghai Composite rallied 1.7%, while Hong Kong's Hang Seng managed a 0.4% win. In Japan, however, the yen gained strength yet again, weighing on exporters and sending the Nikkei 0.4% lower. Elsewhere, South Korea's Kospi dropped 0.1%. 

European stocks are mostly higher at midday. In focus are reports of an upcoming meeting between Italy's central bank and government officials, which has Italian bank stocks booming on hopes a deal will be reached to help banks handle bad loans. What's more, China's soft inflation data is pushing mining stocks higher. London's FTSE 100 was flat at last check, France's CAC 40 was up 0.6%, and Germany's DAX had added 1.1%.

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Analysts are weighing in on Internet powerhouse Alphabet Inc (NASDAQ:GOOGL), precious metals miner Barrick Gold Corporation (USA) (NYSE:ABX), and tech stock Yahoo! Inc. (NASDAQ:YHOO). Here's a quick roundup of today's bullish brokerage notes on GOOGL, ABX, and YHOO.

• GOOGL saw its rating boosted to "buy" from "hold" at Pivotal Research, which also upped its price target to $970 from $800 -- representing record-high territory. Technically speaking, the stock has been unimpressive in 2016, down 2.4% year-to-date at $759.47 -- though it's tacked on 0.8% ahead of the bell. In recent weeks, Alphabet Inc has been consolidating just above the round $750 area. Meanwhile, brokerages are firmly in the stock's bullish corner, with 94% doling out "buy" or better recommendations, and not a single "sell" opinion to be found.

• ABX has been a beast in 2016, more than doubling in value to trade at $15.18, and sitting not far from last month's annual high of $15.52. This positive momentum was met with a price-target hike to $16 from $12.50 at RBC, just the latest in a line of bullish brokerage notes for the outperforming stock. There's plenty of room for additional upgrades, too. Of the 14 analysts tracking Barrick Gold Corporation, 10 have handed out a "hold" or worse rating. Meanwhile, short-term options traders are extremely put-skewed toward the gold stock. ABX's Schaeffer's put/call open interest ratio (SOIR) of 1.35 sits just 2 percentage points from an annual high. In today's pre-market trading, the shares are perched 1.5% higher.

• YHOO has been in the news lately as a number of companies vie for its assets, with the U.K.'s Daily Mail about to throw its hat into the ring. The collective buzz has helped the tech stock higher in 2016. At $36.07, Yahoo! Inc.'s year-to-date lead stands at a rock-solid 8.4%, and more upside could be just around the corner. Ahead of the open, the stock has advanced 1.2% after Pivotal Research dished out a price-target hike to $40 from $35 -- territory not charted since late June. Meanwhile, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open 5.72 YHOO calls for every put during the past two weeks -- with the resultant ratio ranking just 7 percentage points from a 12-month high.

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Stocks are moving higher this morning, as first-quarter earnings season prepares to kick off. Meanwhile, among specific equities in focus are car rental stock Hertz Global Holdings Inc (NYSE:HTZ), real estate investment trust (REIT) Hatteras Financial Corp. (NYSE:HTS), and biotech stock Valeant Pharmaceuticals Intl Inc (NYSE:VRX).

• HTZ is down 5% this morning at $9.21, after the company warned that first-quarter earnings would likely disappoint. Disappoint is exactly what the stock has done in the past 12 months, losing well over half its value, while touching a six-year low of $6.95 on Feb. 11. Short sellers have been piling on amid this underperformance. For instance, short interest on Hertz Global Holdings Inc jumped by 22% in the most recent two-week reporting period. 


• HTS is surging this morning, on news Annaly Capital Management, Inc. (NYSE:NLY) will buy the company for $1.5 billion -- or $15.85 per share. On the charts, HTS had been trending lower for almost three years, before bottoming at an all-time low of $10.54 in January. However, thanks to today's 10% M&A-related pop, the shares were last seen at $15.67. Short-term options traders, meanwhile, have shown a preference for puts over calls on Hatteras Financial Corp. The stock's gamma-weighted Schaeffer's put/call open interest ratio (SOIR) of 4.00 indicates near-the-money put open interest quadruples call open interest in the front three-months' series of options. 


• VRX is trading 1.4% lower at $33.20, following news the company's outgoing CEO Michael Pearson may be held in contempt by a Senate committee. VRX's technical woes have been well documented, with the shares losing roughly two-thirds of their value in 2016. Regardless, some analysts continue to back Valeant Pharmaceuticals Intl Inc, with five brokerage firms issuing a "strong buy" recommendation, while VRX's average 12-month price targets stands at almost two times current levels at $64.61. 

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Analysts are weighing in on precious metals stock Goldcorp Inc. (USA) (NYSE:GG), freight firm Norfolk Southern Corp. (NYSE:NSC), and enterprise software provider SAP SE (ADR) (NYSE:SAP). Here's a quick roundup of today's bearish brokerage notes on GG, NSC, and SAP.

• Unlike this sector peer, GG was hit with negative attention from RBC. Specifically, the brokerage firm slashed its rating on the stock to "underperform" from "sector perform" -- though, at the same time, it raised its price target to $16.50 from $12. In early trading, Goldcorp Inc. is shaking off the downgrade, up 2.9% at $17.60, and has now advanced 52% year-to-date. Elsewhere, options traders keep buying to open puts over calls at a faster-than-usual clip, while short sellers have been piling on. During the most recent reporting period, short interest on GG spiked 65.8%, but still only accounts for 1.8% of the stock's total float.

• NSC is down 2% at $79.84, after Canadian Pacific Railway Limited (USA) (NYSE:CP) ended its pursuit of a buyout. Making matters worse for shares of Norfolk Southern Corp., Barclays cut its price target by $2 to $88. This skepticism is par for the course, as 14 of 17 analysts covering NSC consider it a "hold" or worse, and its consensus 12-month price target of $84.10 is just a chip-shot away. On the charts, NSC's intraday losses are more of the same. The stock has shed almost 6% of its value on a year-to-date basis.

• SAP was hit with a price-target cut to EUR 77 from EUR 78, after the company issued a profit warning, citing slower sales of software licenses to U.S. and Brazilian businesses. At last check, however, the stock was 1% higher at $77.49, putting it just south of its year-to-date breakeven mark. In recent months, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been buying to open SAP SE puts over calls at an accelerated rate. Specifically, the stock's 50-day put/call volume ratio of 4.02 ranks in the 88th annual percentile, with long puts quadrupling calls.

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Drugmaker Insys Therapeutics Inc (NASDAQ:INSY) fell to an annual low of $13.20 this morning, after reporting declining preliminary fiscal first-quarter revenue for its narcotic pain drug, Subsys, which has drawn criticism in the past. Amid soaring volume, the stock was last seen down 23% at $13.59, with the day's huge drop landing INSY squarely on the short-sale restricted list (SSR). 

INSY is off 53% so far in 2016, and has given up more than 70% since hitting an eight-year high of $46.17 last August. But analysts have been relatively kind, giving the security two "strong buy" ratings and just one "hold."

Short sellers, however, have been plaguing INSY, with their bearish bets accounting for 26.5% of the stock's available float. At INSY's typical daily volume, it would take more than four weeks to cover all of these positions.

And with the equity sitting on the SSR list, many traders have taken to the option pits, where contracts are crossing the tape at twice their usual intraday rate. Though option volume is typically low, on an absolute basis, speculators have been picking up INSY calls over pits at an accelerated clip 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 21.11 is higher than 93% of the past year's readings. But this may not signal a flood of optimism -- the recent preference for long calls could, in fact, be short sellers looking to hedge their positions.

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Under Armour Inc (NYSE:UA) is staring at its worst daily percentage loss in months, after Morgan Stanley expressed concerns about slowing sales for the sports apparel maker. At last check, UA stock is down 5.5% at $41.15 -- a move anticipated by options traders and short sellers alike.

During the past 50 sessions at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHL), traders have bought to open 1.12 UA puts for every call. The corresponding put/call volume ratio ranks near the top quartile of its annual range. Similarly, the stock's Schaeffer's put/call open interest ratio (SOIR) comes in at 1.18, with puts outweighing calls among options expiring in the next three months.

Elsewhere, short interest makes up a lofty 15.4% of UA's float. At the stock's average daily trading volume, it would take more than two weeks to buy back these shorted shares, pointing to an ample supply of sideline cash available.

While the bears appear to be in the driver's seat today, a longer-term view tells a different story entirely. Since hitting an annual low of $32.66 in late January, UA has rallied 26%. What's more, the stock is currently hovering around its year-to-date breakeven mark, and just above another layer of potential support at its 100-week moving average -- located at $40.25.

From a contrarian perspective, today's pullback looks like it could end up being a buying opportunity. Provided Under Armour Inc (NYSE:UA) resumes its longer-term trek higher -- a solid bet, looking at historical trends -- a capitulation among option bears and/or short-covering activity could act as a powerful tailwind. 

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Analysts are weighing in on tech stocks Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR), as well as mining firm Silver Wheaton Corp. (USA) (NYSE:SLW). Here's a quick roundup of today's brokerage notes on FB, TWTR, and SLW.

• Ahead of this week's F8 developer's conference -- which is slated to kick off tomorrow -- FB saw its price target raised to $154 from $136 at Pivotal Research. Not only does this stand at a 40% premium to the stock's current perch, but it sits well above FB's Feb. 2 all-time high of $117.59. Nevertheless, the shares are off 0.9% at $109.68 this afternoon, extending Friday's slide. Longer term, FB remains a technical outperformer, though, up 32% year-over-year. What's more, the stock's recent sell-off has stalled out at FB's rising 50-day moving average -- a trendline that's been supporting the shares since mid-February. Analysts remain firmly in Facebook Inc's favor, too, with all but one of the 28 brokerages following the shares maintaining a "buy" or better, and not a single "sell" opinion to be found.


• Pivotal Research also chimed in on TWTR, resulting in a price-target hike to $39 from $32. The stock is failing to capitalize on the bullish brokerage note, however, and was last seen off 1% at $16.49. TWTR's technical troubles have been fodder for the Street for some time now, with the shares down 68% year-over-year. In spite of this, options traders have been initiating long calls over puts at a rapid-fire rate. Twitter Inc's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 4.04 ranks higher than 92% of all comparable readings taken in the past year.


• Commodity stocks are soaring today, thanks to upbeat attention from RBC. SLW, for instance, had its price target upwardly revised to $21 from $20 by the brokerage firm. As such, the shares are up 5% at $17.32. This positive price action only highlights the equity's longer-term prowess, with SLW up more than 39% year-to-date. Nonetheless, options traders have been growing skeptical lately. Specifically, Silver Wheaton Corp.'s 10-day ISE/CBOE/PHLX put/call volume ratio has jumped to 0.99 from 0.49 over the past two weeks, and now ranks in the 96th percentile of its annual range.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Alphabet Inc, Barrick Gold Corporation, and Yahoo! Inc. and Analyst Downgrades: Goldcorp Inc., Norfolk Southern Corp., and SAP SE.

Asian stocks closed mostly higher today, as investors closely watch the beginning of U.S. earnings season. Stocks in Japan again took their cues from the yen, as the currency took a breather from its rally against the dollar, helping the Nikkei to a 1.1% win -- its best day in roughly one month. South Korea's Kospi and Hong Kong's Hang Seng managed respective wins of 0.6% and 0.3%, though Chinese stocks underperformed. Specifically, the Shanghai Composite edged 0.3% lower, with traders concerned that a recently announced batch of initial public offerings (IPO) could further dilute financial markets.

In Europe, stocks are cautiously higher, with mining stocks outperforming on solid diamond sales for Anglo American. However, luxury stocks are sliding after LVMH announced disappointing revenue for the first quarter, citing a slowdown in tourism. At last check, the FTSE 100 had ticked 0.02% higher, France's CAC 40 was up 0.1%, and Germany's DAX had added 0.2%. 

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Analysts are weighing in on aluminum stock Alcoa Inc (NYSE:AA), tech firm Juniper Networks, Inc. (NYSE:JNPR), and java giant Starbucks Corporation (NASDAQ:SBUX). Here's a quick roundup of today's bearish brokerage notes on AA, JNPR, and SBUX.

• AA is bracing for a 2.9% drop out of the gate, after the company kicked off earnings season on a mixed note -- with earnings topping estimates, but revenue dropping 15% year-over-year and coming up shy of expectations. Adding insult to injury, Stifel lowered its price target on the stock to $13 from $14. Still, there's no doubting Alcoa Inc's longer-term technical strength, as the shares have rallied nearly 59% since hitting a six-year low of $6.14 in late January to trade at $9.74. Traders have been betting against AA at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), too. The stock's 50-day put/call volume ratio of 0.92 sits just 6 percentage points from an annual high. If Alcoa manages to shrug off a likely earnings setback and continues its prevailing trend northward, a capitulation among the bears could add fuel to its fire.

• JNPR reported lackluster preliminary first-quarter results last night, lowering previous guidance due to weak demand from enterprise customers. As a result, analysts are piling on the bearish bandwagon, with no fewer than six cutting their price targets on the stock. RBC set the lowest bar, slashing its outlook to $24 from $26. Ahead of the bell, Juniper Networks, Inc. is down 7% after closing yesterday at $24.89, suggesting the shares will break lower from their sideways pattern in the $25-$26 range. Options traders would likely welcome such a move, considering they've bought to open 2.79 JNPR puts for every call during the past 10 days at the ISE, CBOE, and PHLX -- yielding a put/call volume ratio that sits in the bearishly skewed 85th annual percentile.

• Deutsche Bank lowered its rating on SBUX to "hold" from "buy," and cut its price target to $64 from $70, citing decelerating sales and earnings trends. "We believe the combination of lofty near-term investors' expectations, operational changes and a premium valuation creates a less favorable risk-reward on the shares," the brokerage firm wrote. The bearish note is taking a toll on Starbucks Corporation ahead of the open, with the stock down 2.2%. However, since flirting with $52 in early February, the shares have picked up steam (in line with historical trends), and settled Monday at $60.90. Not surprisingly, the majority of analysts remain in SBUX's bullish corner, with 19 of 23 doling out a "buy" or better assessment -- and not a single "sell" opinion on the books.

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U.S. stocks are set to start the session modestly higher, rising in step with crude oil prices. Meanwhile, among specific equities in focus are construction equipment supplier Fastenal Company (NASDAQ:FAST), shipping interest Eagle Bulk Shipping Inc (NASDAQ:EGLE), and biotech stock Horizon Pharma PLC (NASDAQ:HZNP).

• FAST is set to drop 3.6% at the open after reporting first-quarter earnings just shy of estimates. Fastenal Company was up 15% year-to-date heading into this morning's report, closing at $46.94 on Monday. The shares hit an annual high of $49.99 in late March before pulling back to their 40-day moving average -- a recently supportive trendline that will likely be tested in today's trading. Despite the stock's recent outperformance, though, sentiment has been tilted against FAST. Out of 15 analysts providing coverage, 13 call the equity a "hold" or "strong sell." And FAST's Schaeffer's put/call open interest ratio (SOIR) of 1.95 shows puts nearly doubling calls among options expiring in three months or less. Moreover, this ratio ranks in the 85th percentile of its 12-month range.


• EGLE is up 8.7% in pre-market trading after GoldenTree Asset Management reported an 18.3% stake in the company. The stock has been spiraling over the past year, hitting a record low of $0.30 on April 4. What's more, based on Eagle Bulk Shipping Inc's Monday close of $0.91, the shares had given up nearly three-fourths of their value so far in 2016. No analysts are following EGLE at the moment, but some bearish traders have recently cashed in their winning bets. Short interest on the security fell by about 25% during the latest two-week reporting period, and now accounts for 7.5% of EGLE's total float -- less than two sessions' worth of trading, at the stock's average daily volume.


• HZNP is poised to plummet 18.2% at the bell after confirming disappointing guidance for the full 2016 fiscal year. The shares were rejected by their 140-day moving average late last week and closed slightly lower on Monday, at $18.22. Year-to-date, the shares of HZNP have lost nearly 16%. Still, six out of seven analysts call Horizon Pharma PLC a "strong buy." And option traders have turned distinctly bullish of late -- at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), long calls on HZNP outnumbered long puts nearly 6-to-1 over the past two weeks. The resulting 10-day call/put volume ratio of 5.84 sits higher than 76% of all readings in the past year.

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