Bulls Target Bebe, Crocs: 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) -- Bearish signs in Expeditors International of Washington(EXPD Quote): Ahead of its earnings results Tuesday, the freight company is showing a potential bearish pattern on its daily chart.

Calls ride rally in Amylin Pharmaceuticals(AMLN Quote): The drugmaker is roaring back from a four-month low today after signing a marketing deal with Japan's Takeda Pharmaceutical.

Bebe Stores(BEBE Quote) attracts unusual call buying: Shares of the women's apparel retailer are 30% off their May highs, but the bulls are rearing to get in.

Traders looking for pop in Crocs(CROX Quote): The shoe maker reports earnings on Thursday, and at least one big investor is looking for a pop by buying November calls.

Monday Pre-Market:

Bulls lose major technical battle: The current uptrends in all of the indexes have been broken for now. The only way for that to be repaired would be for the indexes to move back above their 50-day moving averages.

Heavy call buying in FTI Consulting(FCN Quote): The global business advisory company saw upside options activity late in Friday's dismal session ahead of its earnings report Wednesday.

Alcon(ACL Quote) gets three-way bullish trade: One big investor is using a three-way options strategy that will make money even if the maker of OPTI-FREE contact solution drops 16%.

Strategy tries to 'strangle' CarMax(KMX Quote): The used-car retailer's stock has dropped 15% as its volatility has picked up, and one trader expects that to continue.

Higher volatility seen for Packaging Corp.(PKG Quote): One option trader is betting that the box manufacturer's volatility, which ended a six-month decline in October, will climb again.

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