STE Options Flip Contradicts Rising Short Bets

Bullish call buying has hit [STERIS plc](/s/us/ste) just as short sellers step up pressure. The put/call ratio collapsed to 0.87 on May 13 — a 2.65 standard-deviation drop below the 20-day average of 1.29. That contradicts a 21% weekly surge in short interest, setting up a rare two-sided tension.

## Call Buyers Step In

The PCR drop is sharp and statistically extreme. One week ago, the ratio sat…