Hi, I can understand the concern for severe stress hives on arms. You have not told us your age, sex and occupation so that a close diagnosis could be established There can be multiple causes of hives in yourself. For the best possible cause you can meet a dermatologist. Streptococcus infection in general can not be caused by bed bugs so do not correlate the same. Get proper management of bed bug as well as antibiotic therapy for the Streptococcus infection. I advise you to not pinch or pop the area otherwise these areas are very prone for getting secondary infection. For time being period you can apply steroid based cream such as mometasone or cortisone and take antihistamine tablet such as loratadine or cetrizine. Do not try to even touch or pinch the area as can cause more aggravation of the problem. Take care.