Nvidia, Illinois Tool: Options Recap

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

By David Russell, reporter for OptionMonster.

NEW YORK (TheStreet) -- Traders cashing out Nvidia options: Graphics chipmaker Nvidia(NVDA Quote) is up 43% in the last three months, prompting investors to take profits before company presentations this week.

Options bearish on Illinois Tool Works: The toolmaker's stock is running into potential resistance on its chart, and one option trader is positioning for a pullback in Illinois Tool(ITW Quote).

Trader sees more upside for Vale: As the price of gold pushes other metals higher, Brazilian mining company Vale(VALE Quote) is hitting an 11-month high and leading one options trader to aim even higher.

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