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) -- Bull goes in the money with Holly (HOC): The oil refiner is showing signs of making a push higher, and one trader is using in-the-money calls to bet on a rebound.

Which sectors are gaining, lagging?: As the market continues its steady rally, a quick review of the sectors in the S&P 500 may give us a sense of what is working and where the softer spots might be.

Call action spikes in health care ETF: Less than halfway through the session, the Health Care SPDR ( XLV) exchange-traded fund is seeing call volume that is 11 times its total daily average.

Gymboree (GYMB) faces range-bound trade: The children's clothing retailer gapped higher on a strong earnings report last week, and now one trader apparently thinks that it will move sideways.

Bulls look for bounce in Taiwan stocks: Taiwanese stocks have been lagging most other countries this year, but now the bulls are looking for a rebound through the iShares MSCI Taiwan Index ETF ( EWT).

What's behind Skechers (SKX) call activity: The shoe retailer is up more than 500% in the last year and seeing unusual call volume in the April contracts.

Large bet that Treasuries will jump: A trader is making a big bet that the 20-year Treasuries exchange-traded fund will rise sharply in the next two days.

Wednesday Pre-Market:

India ETF sees huge call activity: An exchange-traded fund that tracks Indian stocks had 10 times the average options volume yesterday, all in one trade.

S&P hits new high above resistance: The rally has been a series of very small steps leading to new highs. The bears are out of every technical catalyst, short of a broadly overbought condition.

Vale (VALE) advances with heavy call buying: Traders appeared to be very bullish on the Brazilian metals and mining company yesterday as they snapped up calls while the shares climbed higher.

Live Nation Entertainment (LYV) gets vote of confidence: The concert promoter has been moving straight up since mid-February, and traders are confident that the stock will hold its ground.

Bullish traders snap up Kellogg (K) calls: The food company drew upside option activity in the April contracts yesterday as its shares trade in an increasingly narrow range.

Trader selling puts as Popular (BPOP) spikes: Option volume surged 165-fold in the beaten-down Puerto Rican lender yesterday as the stock rallied 13%.

Bulls bet on rebound in KongZhong (KONG): The Chinese phone software company is down 37% this year, and now traders are positioning for a rebound.

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