Egg supplier Cal-Maine Foods marched into the earnings confessional this morning to reveal that it raked in a first-quarter net profit of $18 million, or 76 cents per share, bouncing back from its year-ago loss of $5.4 million, or 23 cents per share. Sales during the quarter jumped nearly 55% to $178.6 million. The company stated that USDA statistics indicate that the overall egg supply will be moderate in the months ahead.

In electronic trading, the shares are up more than 1% this morning. The stock has staged a nice rally from its August 10 low of $13.88, gaining nearly 82% along the steadfast support of its 10-day and 20-day moving averages. What's more, the security tagged a fresh all-time high of $25.63 on Friday.

Meanwhile, pessimism continues to blanket the shares. Schaeffer's put/call open interest ratio for CALM rests at 0.44, which is higher than three-quarters of the readings taken during the past 52 weeks. In addition, short interest jumped 13% in September to 2.3 million shares. At the stock's average daily trading volume, it would take 6.5 days to buy back all of these bearish bets. An unwinding of this pessimistic sentiment could help to carry the security higher.