Options Recap: Intel Draws Bullish Trades

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.

Below is a compilation of stories that ran Monday on OptionMonster.com, which uses advanced monitoring systems to detect trading patterns by large institutional traders and retail investors.

Bulls hope Perfect World(PWRD Quote) lives up to name: Options action turned bullish on the Chinese videogame developer as traders bet that the stock will rally at least 37 percent by December.

How bond ETF can signal S&P moves: Today we will show a way you can follow another very important asset class as a co-indicator for the turns in the S&P 500.

Coach(COH Quote) refuses to be fashion victim: The high-end retailer is rising with slightly bullish options activity against a tough tape, indicating that fashion is not yet a victim of the economic downturn.

Large bullish trade in Abercrombie & Fitch(ANF Quote): One big investor is bullish on ANF, attempting a three-way options strategy to maximize gains from a move higher.

Monday Pre-Market:

Indexes show potential bearish 'wedges': On the short-term charts, using a 10-day window with a 15-minute time interval, we have identified potential bearish "wedge" patterns for all the indexes.

Put buyers hammer Home Depot(HD Quote): Put buyers stepped in last week as Home Depot shares again found support at their 200-day moving average.

A tale of two handsets: Something unusual has been happening in the handheld device space as Research In Motion(RIMM Quote) falls and Palm(PALM Quote) gains.

Intel(INTC Quote) draws bullish trade amid rumors: Intel attracted a large bullish trade Friday as rumors swirled after the company took a significant stake in a smart phone chipmaker.

Melco Crown Entertainment(MPEL Quote) gets vote of confidence: Options traders cast a vote of confidence in Melco on Friday, insuring the casino stock against a move lower.