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.

If you liked this article you might like

It's Time to Buy Housing Stocks -- Carefully

Gold Best Performing Metal This Month, Despite ETF Outflows

10 Most Successful New ETFs of 2010

10 Most Successful New ETFs of 2010

Don't Blame Platinium, Palladium ETFs

Don't Blame Platinium, Palladium ETFs

Best-Performing ETFs Go Platinum

Best-Performing ETFs Go Platinum