Good morning. Today, I'd like to share with you a pair of names to consider for bullish options strategies along with a couple of names ripe for bearish bets.

Bullish Options Plays

Magna International

(MGA) - Get Report

Magna broke out Friday from a brief consolidation pattern after testing moving-average support. There are not many stocks in the relative new high area, but MGA is there and is poised to challenge the levels in the $50s from last September. This breakout can be bought.

Dell

(DELL) - Get Report

This has a similar pattern to MGA, but DELL is trying to reach a new high area. Volume was robust on Friday as the previous sessions posed a nice retest. The tech complex has been a relative outperformer of late, and Dell is leading the pack. The stock is now up 30% for the year and poised to test the $15 area soon.

Bearish Option Plays

Vornado

(VNO) - Get Report

The stock had a tepid bounce this week, but volume is still below the big April levels. The trend may be neutral here, but if the market cannot hold up, this will be one of the first to go. The volume has been weak as buyers refuse to step up. Momentum has shifted bearish here while relative strength is breaking down. A close under $44 means lower prices ahead.

Research In Motion

(RIMM)

Research In Motion reported earnings Thursday night and disappointed. The chart is showing a major breakdown here, and further damage is ahead. I was dismayed afterward as I had some July calls set up for the earnings that didn't work for me. That's OK -- I'm ready to shift gears and play this now for some downside. Regardless of whether I like or dislike a company, the chart tells the story, and for RIMM it is bearish. Some support is there at $70 and may provide a small lift, but it won't sustain.

At the time of publication, Lang owned July calls in RIMM.

Bob Lang is a senior analyst and portfolio manager at

BigTrends.com

. He manages subscription services for the firm and writes timely articles about markets, trends and the economy. Lang's articles can be viewed on numerous sites on the Internet. Together with renowned market timer Price Headley, Lang has helped build his supported products into a winning class. He participates in a coaching forum for advanced traders in which he teaches his unique style of trading.