Omniture , which provides software to optimize companies' cyber-business, has turned into quite an interesting stock of late. In a steady uptrend for the past year (with a 52-week gain of more than 340%) the stock has been on quite a tear of late as well, zooming up about 45% since September 10.

The stock has also recently seen an imbalance on the options front, with puts getting a lot of attention from the bears. In yesterday's trading on the International Securities Exchange (ISE), 1,471 new puts were bought to open alongside just 69 new calls. The single-day put/call ratio hit 21.32, one of the highest of the session. Schaeffer's put/call open interest ratio (SOIR) for OMTR subsequently jumped from 0.89 to 1.19.

This morning, the stock was downgraded to hold from buy at Cantor Fitzgerald but has managed to hold steady thanks in part to a contract inked with the National Hockey League. has selected Omniture to help with its web content and online marketing campaigns. In midday trading, OMTR shares are virtually unchanged.

As the stock continues to trek higher, it could be the beneficiary of short-covering momentum. Presently, 18% of the equity's float is sold short and it would take more than 6 trading days to unravel all standing shorted positions. If the stock continues to muscle higher, the move could force out some of the short sellers, who sprint toward the exits in an attempt to curb losses.