Despite a bullish initiation this morning, BlackRock, Inc. (BLK: sentiment, chart, options) is down nearly 5% in trading. In spite of its mineral-sounding name, the company is an investment management firm, and Barclays initiated it at "overweight" today.

I'm not sure I agree with the rating Barclays has given the firm, as the stock is off 47% from its mid-August high. The security was able to find support at the 105 region, but it is still trading below its 30-day moving average, a formerly supportive trendline.

Furthermore, this equity's Schaeffer's put/call open interest ratio (SOIR) of 0.67 indicates that calls outnumber puts among options slated to expire within 3 months. Also, this ratio ranks lower than 98% of all similar readings taken during the past 12 months, meaning short-term option players have been more bullishly aligned just 2% of the time during the past year.

Additionally, Zacks reports that BLK harbors 2 "strong buys," 1 "buy," 4 "holds," and 2 "strong sells." While this configuration is bearishly slanted, there is still plenty of room for downgrades in the near future.

Overall, if the stock is unable to make some serious progress on the charts, it could see an unwinding of this bullish sentiment, either from the option players and/or the brokerage firms - this could spell additional trouble for the stock.