Where are Overstock.com Shares Going? (OSTK)

The only news that Overstock.com (NASDAQ:OSTK) has had lately is that its shares are tanking, but that appears to be on the mend. In the last 30 days OSTK have quietly moved up 17%, adding 3.8% yesterday and trading flat today.  Could the Sith finally be working for Overstock.com by punishing the Shorts, maybe its the option activity, and when is Overstock.com going to have its next earnings call?

(theStockMasters.com) Short interest on Overstock.com (OSTK) shares is at 20.11% according to shortsqueeze.com, it's moved down 3.93% from last month and it gives 17.8 days for shorts to cover their asses.

Yesterday (March 2nd) Overstock.com options experienced some interesting call activity. A total of 13 put and 4,958 call contracts were traded raising a low Put/Call volume alert. There were 381.38 calls traded for each put contract.

As marketintellisearch.com noted:
Unusual volume provides reliable clues that the stock is expected to make a move. Investors can use the Put/Call ratio statistics to measure trader sentiment. A high Put/Call ratio suggests that the overall investment sentiment is bearish and that investors expect the underlying stock to decrease in value. Conversely, a low Put/Call ratio implies that the overall investor sentiment is bullish based on the large amount of call options.

EARNINGS/GUIDANCE -- ANYONE, ANYONE?
Overstock.com says it will still report its first annual profit when it gets its 2009 financial statements out. KPMG, the new auditor, is still at work and there could be more things coming. For now, $1.9 million of income moves from 2009 to 2008, and another $900,000 comes out of 2009 profit due to improper accounting for stock options.

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SOURCE: http://thestockmasters.com/overstock-naked-shorts-03022010