<div id="readability-page-1">Cracker Barrel Old Country Store Inc (NASDAQ:CRBL) shares are sinking after the company reported a narrower-than-expected loss of 74 cents per share for the fiscal first-quarter, but missed revenue estimates and slashed its annual sales outlook. The stock is down 1.2%, at last check, to trade at $25.76 -- its lowest level since 2009. Overhead resistance has stayed sharply above the shares at the descending 20-day moving average. This trendline also acted as a ceiling alongside the $30 level during the stock's brief recovery attempt late last month. Since January, CBRL has shed 48%. Short interest has been climbing, up 9% during the most recent reporting period. However, with 23% of the float still sold short, it would take short sellers over three days to buy back their bearish bets. In the options pits, bullish sentiment is at large. CRBL's 50-day call/put volume ratio of 2.00 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 87% of all other readings from the past year, meaning should this bullish sentiment begin to unwind, it could trigger more headwinds for the restaurant chain. Meanwhile, today’s options activity is picking up. Traders have already exchanged 3,334 calls and 3,916 puts -- five times the typical intraday volume. Seeing the most attention is the December 25 put, with the 27.50 call from the same series closely behind. It's also worth mentioning that the equity has tended to outperform volatility expectations over the past year, as suggested by its Schaeffer's Volatility Scorecard (SVS) of 98 out of 100.</div>

CBRL

Cracker Barrel's stock dropped 1.2% to $25.76, its lowest since 2009, after missing revenue estimates and cutting its annual sales outlook. The stock has fallen 48% since January, with short interest rising. Bullish sentiment in options pits could lead to more headwinds. Today's options activity is high, with significant attention on December 25 puts and 27.50 calls. The stock has outperformed volatility expectations, indicated by a Schaeffer's Volatility Scorecard of 98.

Cracker Barrel Stock Sinks After Trimming Annual Sales Outlook