Bulls Target Deere: Options Recap

OptionMonster co-founder Pete Najarian provides options picks Monday, Wednesday and Friday in TheStreet.com's Deep in the Money Calls newsletter.

David Russell, reporter for OptionMonster.

NEW YORK (TheStreet) -- Gold ETF(GLD Quote) hits bullish target on chart: As the GLD exchange-traded fund blows past $113.09, it reaches the price objective in the first of two bullish patterns we cited earlier.

Rough ride seen for American Eagle Outfitters(AEO Quote): The retailer has been on a roller-coaster ride for the last month, and one trader is positioning for the volatility to continue.

Trader writes Thermo Fisher Scientific(TMO Quote) insurance: One big investor seems to think that the lab equipment maker will hold the $45 level and has written protection at that strike to earn income.

Bullish pattern confirmed in Deere(DE Quote): Pulling back to a two-year view, a large bullish "triangle" formation presents itself on the chart with potential upside past $72.

Simon Property Group(SPG Quote) draws downside bets: While the real estate investment trust pushes back up toward 52-week highs, option traders are banking on some downside.

Wednesday Pre-Market:

DRJ on what Washington should do: As we saw in the Nov. 3 elections, there is plenty of anger out there. Although much of it is justified, Jon says there are ways to address the public's growing frustration.

Traders digging into Stillwater Mining(SWC Quote): The platinum and palladium company broke a key resistance level this week, and the options have been surging.

What's behind put buying in Frontline(FRO Quote): The oil tanker company dropped 2.2% from resistance levels yesterday and saw significant put buying.

Pennies squeezed from 3Com(COMS Quote) takeover: When does it make sense to bet the farm to earn a few pennies? When you're certain you'll be right. That's what happened yesterday with 3Com options.

-- Reported by David Russell at OptionMonster in New York.