Cramer's 'Mad Money' Recap: A Monster Trade

A Superior Offshore IPO Here

Superior Offshore International, a company involved in subsea-construction services, is set to come public under the symbol DEEP and should start trading this Friday, Cramer said.

There are a few reasons, he told viewers, that he believes this initial public offering deserves consideration. First, DEEP has great earnings and fundamentals, Cramer said, and it has been priced at a "reasonable" range of $14 to $16 a share.

In addition, DEEP's competitors, such as Nabors (NBR Quote) and Halliburton (HAL Quote) -- shares of which Cramer owns for his Action Alerts PLUS charitable trust -- are doing well, Cramer said.

He advised market players to first do their homework and then place an order to buy 100 shares of DEEP by Wednesday or Thursday morning at the latest. Further, Cramer said he would be willing to pay up to $20 a share for the stock.

Most of DEEP's business is in the Gulf of Mexico, but it is expanding to deepwater, he said. And the company is not just about new drilling; it also repairs and maintains current drilling activity, Cramer went on to say.

"There are still years of repair work left after [Hurricane] Katrina, and hurricane season is supposed to pick up this year," he said. "It could be your play for repairing infrastructure after storms hit."

Cramer called it a "great company," with "real profits" in a sector that's doing "increasingly well."