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) -- Progress Energy (PGN) falls, draws puts: The company has been hit by record levels of energy usage in Florida as that state endures record low temperatures.

Trader positions for Nexen (NXY) upside: The Canadian oil and gas stock has been trapped below $30 since September 2008, but one trader is positioning for a rally past that level in the next two months.

Exelixis (EXEL) trade sees tighter range: The cancer research company's volatility remains high, but one trader sees that continuing to subside over the long term.

Call spread looks for pop in Anadys Pharmaceuticals (ANDS): The micro-cap drug developer has been building a base around $2 since mid-2006, and now one investor is looking for a rally.

Bull target Talisman Energy (TLM) after new high: The energy company will address investors today and tomorrow, and at least one bull is champing at the bit to get long.

Monday premarket:

S&P, Russell pass resistance levels: After closing higher Friday, both indexes will get new resistance levels for today, as well as slightly higher support levels.

Key names at big health care confab: More than 6,000 people will convene at the annual JPMorgan Healthcare Conference this week, the industry's largest single event of the year.

Motorola (MOT) attracts huge call activity: The mobile phone maker fell 4.5% on Friday, but it was the calls that were active as nearly 88,000 changed hands in a single trade.

Strategy bets that Lorillard (LO) will hold: The tobacco company hasn't traded below $60 since April, and one investor thinks that will stay true for the next year.

Trader goes diagonal on Auxilium Pharmaceuticals (AUXL): The pharmaceuticals company has been falling since September, and now one trader is using different expirations to bet on a rebound.

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

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