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.

Wendy's/Arby's Group ( WEN) is up 21% in the past month, and at least one trader expects it to keep climbing through its next earnings report in early August.

OptionMonster's tracking systems detected the purchase of 5,850 September 5 calls at rising prices of $0.25 and $0.30. Volume was more than 290 times open interest, indicating new money was flowing into long positions in the name.

Wendy's, which is down 3.2% to $4.54 in midday trading, must climb 16% by expiration for the calls purchased today to turn a profit.

The restaurant chain, down 70% since the start of 2007, will report second-quarter results on Aug. 6. The stock fell 9% after its same-store sales disappointed investors during the last report on May 7.

Today's buying pushed volume in the name to eight times average, with calls outnumbering puts by 426 to 1.