Fear Remains Vix Shows: 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) -- Fear remains as the VIX shows: The CBOE Volatility Index is falling, but not nearly as much as one might expect.

Options see top in Chiquita Brands: Chiquita Brands (CQB Quote) has been screaming higher over the past month, and now options action suggests the fruit importer is near a top.

Options bearish on Kroger: Options action was bearish on Kroger(KR Quote) Wednesday as at least one big investor positioned for downside in the supermarket chain.

Volatility selling spreads to new ETFs: Some of the new ETFs provide highly leveraged ways to trade indices, especially when you factor in the options, and that is what we see in one of the 3X funds.

Corporate bond ETF receives bearish trade: Corporate bonds have rallied along with the rest of the market in the last five months, and now one investor is insuring against a return to the March lows.

Wednesday premarket:

Fed meeting keeps technical levels on hold: Tuesday's move down was nearly enough to reach support in the Nasdaq 100 and the Russell 2000, but the price got nowhere near the S&P 500's support.

Bears trek north of the border: Some bears are migrating to Canada for the rest of the summer, buying puts in the iShares MSCI Canada Index (EWC Quote) exchange-traded fund.

Bulls dig into BB&T: Options action was bullish on BB&T (BBT Quote) Tuesday as traders banked on a rally from the North Carolina lender.

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