"Brigham Exploration (BEXP) as onshore properties in the Gulf Coast, as well as in the Anadarko basin and West Texas; but the stock's performance and future growth prospects are heavily leveraged to the Bakken and Three Forks plays in North Dakota and Montana," says energy sector specialist Elliott Gue.

The editor of The Energy Strategist explains, "The company first began accumulating acreage in the Williston Basin in 2005, and the vast majority of its planned CAPEX is concentrated on the region.

"Most of Brigham Exploration's acreage and drilling activity has historically been in North Dakota, though the firm is drilling wells to establish the value of its acreage in eastern Montana.

"I am a big fan of oil right now, as I believe it is significantly oversold. And one super-charged way to play a rise in oil is with Brigham Exploration (BEXP)," says Mike Turner.

The editor of Trade of the Week, explains, "My forecast charts -- based on time-cycle technology -- indicate that oil should move higher.

"While the overall market is down a little over -10% in this current correction, many oil companies are down -20%, -30% and some even more. Relative to the broader market, this means many of these oil companies are significantly oversold and underpriced.

Despite the U.S. stock market's recent run up, the decline in the U.S. dollar and inflation fears have investors searching for safety in these uncertain times. A popular strategy that has emerged is to hedge market and currency risk with commodities, namely gold, oil, and uranium. What specific stocks and investments in these sectors are likely to outperform?

ETFs like the US Oil Fund (NYSE: USO) and the SPDR Gold Shares (NYSE: GLD) will obviously track any rise or fall in these commodities to a T, but perhaps individual companies in these sectors are a better fit for you. Below are some industry giants, as well as speculative plays that are also drawing attention from investors.

Bunge Limited (NYSE: BG) will acquire Corn Products (NYSE: CPO) for $56 in BG stock. CPO overall option implied volatility of 44 is near its 26-week average of 41 according to Track Data, suggesting slightly larger price movement.

Brigham Exploration (NASDAQ: BEXP), a natural gas company, closed at $15.85. BEXP July option implied volatility of 86 is above its 26-week average of 71 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com