Crown Holdings faces modest short covering into Monday's print. Put-call ratio spiked to a three-week high while borrow costs remain stable.
Short interest stands at 5.08 million shares, 4.5% of free float.
That's down 4.1% over the past month. Day-to-day volatility persists — shorts added 45,000 shares on April 22, but the longer trend shows gradual de-risking. Days to cover sits at 5.5, indicating moderate liquidity. The current level is well below the March 17 spike when shorts briefly exceeded 5.3 million shares before retreating.
The put-call ratio jumped to 0.62 on April 23, up sharply from the 0.51 twenty-day average.
This represents a Z-score of +1.69, the highest defensive positioning since late March. Recent sessions show PCR climbing from 0.39 on April 20 to 0.62 now — a sign traders are buying downside protection. The stock gained 0.98% on April 23 despite the cautious options flow.
No recent analyst changes recorded. Coverage data is unavailable in the snapshot.
CCK reported earnings February 4, 2026 at 9:05 PM ET.
Prior earnings dates include February 5, 2026 at 2:00 PM and February 3, 2026 at 9:00 PM. The packaging giant has established a pattern of after-hours releases. Historical price reaction data is not included in this snapshot, but the stock has added 2.0% over the past month despite a 1.3% pullback in the last week.
No active ORTEX Alpha signals.
The ORTEX Short Score sits at 41.2 as of April 22, unchanged from prior readings. Utilization remains low at 5.5%, far below the 52-week high of 17.2%. Cost to borrow ticked up 18.8% week-over-week to 0.40%, but remains negligible in absolute terms.
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