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This column was originally published on RealMoney on April 6 at 11:45 a.m. EDT. It's being republished as a bonus for readers.





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, oh my! Apologies to

The Wizard of Oz

, but I am beginning to believe that these stocks' moves are about to end. They are so far into the zone that it is important to have a strategy for all three. I have repeatedly stressed that you need a deep in-the-money call strategy for Goldman Sachs.

Let's go over what I would do at my hedge fund on these. The Goldman contract I would seize on is the July $145 call. I would buy 250 at $18 and then double down on a 5-point pullback. If it keeps running, you have enough on.

Lehman: The money contract, as I always called it, would be the July $140s for $15. Same deal, 250 with a double down on a 5-point pullback.

Bear's tougher. I am more concerned about a possible slowdown at Bear because of mortgages, plus the premiums are way too high vs. the others. I would buy only 100 of the July $120s for $25, and I would wait for the same 5-point pullback to take the position to 250.

I would do these three moves right now because I believe you need exposure to at least two of these three in order to have some sanity. Those are the best bets out there, provided you leave room for a pullback.

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At the time of publication, Cramer had no positions in the stocks mentioned.

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