OptionSIZZLE

PetMed Express (PETS) saw an explosive move higher yesterday, closing near the highs which saw follow through today with prices hitting new all time highs this morning. On Friday we saw a pick up of call action going into the weekend in the March call contracts with buyers in the 22.5 strike.

Paccar (PCAR) had a huge day on Friday with hitting new 52 week highs. Friday's move was tipped off with a large buyer in the March 39 calls early Thursday morning when prices reversed on a large equity block hitting the tape.

Finsiar corp (FNSR) is a name that I have been seeing an increase of bullish option activity with traders buying out of the money calls over the last three trading sessions.

TiVo Inc.(TIVO) shares had an explosive day today with prices up $6.32 or 61.90% on a positive court ruling.

In our Elite chat room I went over exactly to our members what I was seeing In PetSmart (PETM).

Airlines are showing relative strength and a few hit new 52 week highs. Not only are the technicals look good on a few of these names, but traders with big money are making bullish bets in the options market that prices continue to march higher.

In tonight's video I go over the option action in Smith International Inc. (SII) from February 16 - February 18, 2010,  going into the Schlumberger Ltd. (SLB) announcement of a stock for stock buyout.