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) -- Ventas (VTR) faces bearish trades at highs: The health care real estate investment trust is just off its 18-month highs, but now the option action appears bearish.

Potential cloud on the horizon for S&P 500: As we begin heading into the next earnings season in April, there are possible bearish technical signals emerging on the index's chart.

Call seller takes profits in Telmex (TII): The Latin telecom services company is trading near the levels where it became an independent company in 2008, and one trader is taking profits.

Bulls position for Star Scientific (CIGX) gains: The stock has been rallying despite a lack of positive news after hitting a new all-time low in December and then consolidating above its 30- and 50-day moving averages.

TiVo (TIVO) sees three-way trade in August: One trader may be making a bet that the digital recording company, now at its highest level in 10 years, will give up its massive gains from two weeks ago.

Trader bullish as Taiwan ETF drops: The price of the iShares MSCI Taiwan Index ( EWT) exchange-traded fund is dropping sharply, but at least one option trading appears bullish.

Bear thinks Amylin Pharmaceuticals (AMLN) has peaked: The pharmaceuticals company is up 55 percent in the last three months, and traders are calling a top after an FDA ruling on its diabetes drug.

Monday Pre-Market:

Beware the pitfalls of earnings plays: Trading into an earnings announcement is always tricky business, and especially so if you are using options. Here are some things to watch out for.

Bears see Domtar (UFS) reversing lower: The Canadian wood-products company hit a new 52-week high Friday, and the bears are positioning for a reversal lower.

KLA-Tencor (KLAC) triggers bearish pattern: Shares of the semiconductor systems company have triggered a bearish pattern we identified late last month, though at a higher level than anticipated.

Methanex (MEOH) call sellers take profits: The Canadian chemical maker is hitting a potential point of resistance, and traders are taking profits by selling April calls

What's behind E*Trade (ETFC) call activity: The online brokerage hasn't seen much in the way of option activity the past month, but one very large call trade was made Friday.

Bulls keep the faith in Check Point Software Technologies (CHKP): The data-security software company keeps rallying higher, and the bulls remain confident in current levels by selling puts.

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