On CNBC's "Options Action," Carter Worth said he thinks Adobe Inc (NASDAQ:ADBE) is solid and strong. The stock has returned where it was almost a year ago and it has just started to show relative outperformance to the S&P 500. Worth noticed several technical patterns that suggest the stock has bottomed and he expects it to break out on the upside.

Mike Khouw wants to use options to make a bullish bet. With earnings coming up on June 17, short-term implied volatilities are elevated relative to the long-term implied volatilities so he wants to take advantage of that dynamic by buying the September $540 calls for $28.35 and selling the June $555 calls for $4.60. The trade would cost him $23.75, which is the maximum amount he can lose. If the stock trades sharply higher, above $555 the trade is going to underperform as the spread is only $15 wide.