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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Traders Bet FMC, Cimarex Will Rally

Stocks in this article: EWT ODP KGC

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) -- Trade points to resistance on C.R. Bard (BCR): The medical equipment supplier has been trapped below $85 for almost a year, and one trader apparently thinks that the resistance level will hold at least through next month.

Vote of confidence in FMC Technologies (FTI): The oilfield-service company is down after narrowly beating earnings forecasts, but one investor is confident the stock will hold its ground.

Bulls charging into Cimarex Energy (XEC): The oil and gas producer is hitting new highs along with bullish option activity after beating earnings estimates in the pre-market.

CF Industries (CF) faces bearish trades: The fertilizer company is challenging a key resistance level established during the 2008 market crash, and some investors don't think it will succeed.

Wednesday Pre-Market:

Where Darwinism meets options: It would seem that the idea of selling unhedged volatility is one that should go the way of the dodo. The problem is that our financial system makes this type of trading necessary.

Jack in the Box (JACK) puts active before earnings: The fast-food chain has risen sharply this month but is drawing some downside option activity ahead of its earnings report after the market closes today.

Automatic Data Processing (ADP) sees surge of late-day call buying: The human-resource services company saw a flurry of upside option activity late yesterday ahead of a meeting with analysts tomorrow morning.

Kinross (KGC) rallies despite bearish trade: Kinross fought its way higher yesterday, frustrating one bearish trader who tried to bet against the Toronto-based miner.

S&P 500 attracts large bullish bet for 2010: One large institutional trader is making a big bet that the index will be almost 20% higher by the end of the year.

What's behind Office Depot (ODP) call action: The office-supply company will release earnings next week, and at least one big investor is looking for a rally ahead of the news.

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