Yup, that is a title I never thought I would see. But it seems that NutriSystem Inc. (NTRI) has picked Larry the Cable Guy as their new "face". I was watching CNBC earlier today and saw it for myself.

This seemed a somewhat "radical" move, but based on the chart below, something radical needs to be done. Since peaking last summer, the shares have plunged from the low-70s to the current price near 14. However, that dive doesn't appear to have scared option traders. As seen to the right, the stock's put/call ratio has slide steadily lower since January, suggesting optimism.

Optimism amid a downtrend is usually a warning sign to contrarians. Of course, it is not often that Larry the Cable Guy is in the mix. Perhaps the bulls will be able to git-r-done?

Chart Courtesy of Thomson Financial