If I am right about
, you might want to pick up some December $500 calls for $6 and change today. I know, that's a wild one, but Google could become the de facto "only tech or media stock you need" between now and the end of the year, and it won't take much to have the stock trade to 41 times next year's $12 potential in earnings.
This stock is 40 points away from its all-time high, and there seems a real possibility that Google will take out that high in the coming weeks. If so, these December $500s at $6 could be a double.
Normally I like to recommend deep-in-the-money calls for what I like very much, and I am not changing my stripes. They are the best plays on GOOG . The December $400s at $40 and change would be the best place to be.
But I believe that it could very well be right to have something up top, so to speak, for the breakout (if it comes), because that contract could turn into money without all that much of a move.
Remember, divide the stock price by 10 with Google to get it in perspective. Is it possible that a $43 stock could go to $50 in three months?
I sure as heck think so.
At the time of publication, Cramer had no positions in stock mentioned.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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