Profits are tough enough to pocket in this market, and I just hate it when some of our readers miss out. For example, subscribers to RealMoney received a recommendation yesterday that brought in a bonanza in less than 24 hours.
At noon yesterday, Jim Cramer recommended buying January $65 call options (MONAM) in Monsanto (MON) for a trade in his blog. (Jim called them "mouthwatering," as a matter of fact.) Monsanto was scheduled to post quarterly results this morning, and Cramer expected an upbeat report -- especially because Monsanto's management had scheduled a road show with investors next week.
The options were priced at just above $8 at the time Cramer made his blog post and closed yesterday at $9. Meanwhile, Monsanto's shares were trading around $72. After the ag chemicals producer delivered a blowout fiscal first quarter this morning, Monsanto's shares opened nearly 10 points higher, sending the value of the options contracts as high as $19.70.
Several times this morning, Cramer recommended that RealMoney subscribers lock in their gains on the MONAM options, after more than doubling their investment in less than a day.Here's a link to Cramer's post from yesterday. Don't you think it's time you took a subscription to RealMoney? Click here to sign up. Dave Morrow Editor-in-Chief TheStreet.com