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There is a fair amount of information for investors to digest today, including industrial production, empire state manufacturing and the NAHB housing index. Traders will also be keeping on oil, which remains above $125 a barrel, and the dollar which remains near a six-month low. Stocks that should see above-average option activity include those reporting earnings, such as retailers JC Penney (JPC) and Urban Outfitters (URBN) , which both posted better than expected results. General Electric (GE) might see some extra volume following news the company is looking to sell its appliance business. But the real option speculation might be in the names being floated as possible buyers. Whirlpool (WHR) seems a likely candidate, but it could face regulatory issues as the combination would control nearly 80% of certain markets. Blockbuster (BBI) , which is in talks to buy Circuit City (CC) , reported better-than-expected earnings. This could either help or hurt the proposed merger. The strong reports would show BBI is a solid company and would make a good partner for CC shareholders. On the other hand, BBI shareholders might now question why they need CC at all. RELATED STORIES Will This Blast Last? Still No Inflation Resting Like a Snake
Steven Smith writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks. He also doesn't invest in hedge funds or other private investment partnerships. He was a seatholding member of the Chicago Board of Trade (CBOT) and the Chicago Board Options Exchange (CBOE) from May 1989 to August 1995. During that six-year period, he traded multiple markets for his own personal account and acted as an executing broker for third-party accounts. He appreciates your feedback; click here to send him an email.To read more of Steve Smith's options ideas take a free trial to TheStreet.com Options Alerts.
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