At least one strategist in the options market seems to share a bullish view on Range Resources. At 14:30 Eastern time, an order of 5,000 December 50 calls traded offerside for $4.10 a contract on the PHLX. At the same time, 5,000 of the December 65s traded bidside for $1.30 a contract. The trade has all the signs of a substantial bull call spread.

Some players are betting on a short-term reversal in gold with bullish spreads on the GDX.

Coal stocks have been under fire on worries about falling coal prices during the past week and Patriot Coal (PCX) is one of them. However, some strategists are using the weakness to to enter substantial bull spreads using PCX September calls.