Bulls Target QLogic, Atheros: 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) -- Fertilizer name draws call activity: Option action is turning bullish in Chilean company Sociedad Quimica y Minera(SQM), which reports earnings next week.

Bulls hope QLogic(QLGC) will buck forecast: The bulls are targeting the provider of networking products three days before its earnings report. Management had forecast weaker-than-expected sales and earnings.

Activity surges in UltraShort real estate ETF: There are a number of ways to bet on a return of the real estate market, and one happens to be the options of the leveraged ETFs.

Bulls charge Atheros(ATHR) before earnings: The provider of wireless networking devices reports earnings after the bell today, and the bulls are already getting on board.

Charts show why Apple(AAPL) is crucial: Whatever happens to Apple tonight will heavily color the trading in the Nasdaq 100. If the news is bad, the index might well break its uptrend.

Eldorado Gold(EGO) draws put action: Shares of the mining company are falling even as the markets hold even, and one trader has used this as an opportunity to trade some puts.

Monday Pre-Market:

Don't confuse VIX options, futures: A discussion about VIX options and futures provides a valuable education but seems to illustrate more of what people do not understand, as opposed to what they do.

Indexes close above support levels: Friday's session was a bit more volatile to the downside for the Nasdaq 100 than for the S&P 500 or the Russell 2000, but all closed near or above their support areas.

Bears prowl in emerging markets: Emerging markets have outperformed the S&P 500 by threefold this year, and the bears are smelling raw meat.

Bullish trader sticks with Medivation(MDVN): The biotech drug developer has spent the last 10 months rallying back from the 2008 market crash, and one investor expects it to keep moving higher.