A Fulcrum Day for Options

We're nearing strike prices in a lot of stocks.
Publish date:

This column was originally published on RealMoney on May 17 at 1:43 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.

Now we are starting to see appropriate pin action that makes me hopeful we may have found a level of equilibrium.

We have


(CAT) - Get Report

at the strike. We have


(BA) - Get Report

enough down from the strike that it can rally.


(MO) - Get Report

getting to the strike.


(MSFT) - Get Report

almost there.

Also really encouraging:


(XOM) - Get Report

at $60,


(CVX) - Get Report

flirting with $60,


(PFE) - Get Report



(C) - Get Report

are unlikely to go much below their strikes.





(FDX) - Get Report

is there.


(PEP) - Get Report



(AAPL) - Get Report

there, too.

Keep track of these. We could be there in a lot of stocks. Doesn't mean we can't overshoot, but it does mean that we are close to where we have to go on a lot of names.

Could we be down 200 and change today? Of course. But remember, again, it's fulcrum day for options -- they are calling the tune here.

At the time of publication, Cramer was long Microsoft


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