Options traders are betting hard on Rogers Corporation. The put-call ratio hit 0.13 on June 15 — nearly four standard deviations below its 20-day mean. That is the most aggressive call-buying skew the stock has seen in over a year.
The catalyst is clear. B. Riley Securities raised its price target to $200 from $165 on June 15, maintaining its Buy rating. The new target sits 29% above the current price of $154.93. Analyst Craig Ellis has been a consistent bull on the name. This is his third target raise in little over a year.
The PCR of 0.13 compares to a 52-week high of 1.42. Calls are overwhelming puts at a ratio of roughly 7.7 to 1. The z-score of -3.86 signals this is a statistically extreme positioning shift, not routine noise.
The stock has already moved. ROG is up 10.9% over the past month and 9.9% over the past week alone.
Despite the bullish options positioning, short sellers have been quietly building. SI % FF rose to 2.17%, up 10.2% in one week and 13.9% over the past month. That is still a low absolute level. It does not yet represent a meaningful contrarian bet.
Cost to borrow jumped 67% in one week to 0.71%. That is the sharpest rise in a month. The lending market remains very loose — availability sits at maximum levels with 17.8 million shares available to borrow. The CTB move reflects rising demand, not constrained supply.
Starboard Value holds 3.27% of shares, last reported at 584,328 shares — though it trimmed by 15,692 shares at end of Q1. ACK Asset Management added 38,293 shares in the same period. Columbia Management built aggressively, adding 108,313 shares through April.
Next earnings are due July 24.
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