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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.

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Anadarko Petroleum (APC) - Get Report : With oil seemingly stuck in the mid-$40s for the foreseeable future, is there any money to be made in the oil patch? You bet, Cramer said. In fact, last week's purchase of Freeport-McMoRan's (FCX) - Get Report deepwater assets by Anadarko Petroleum for $2 billion was one of the best deals Cramer said he's ever seen.

It's no secret that Freeport's entry into the oil market came at the worst possible time in 2014. Since then, oil prices have been plummeting and the company has been saddled with $17 billion in debt. But that was great news for Anadarko, which took advantage of a "motivated seller" to double its stake in the lucrative Lucius area of the Gulf of Mexico.

Furthermore, Anadarko was able to purchase these great assets not by taking on more debt, but by issuing 32 million shares of stock in a very successful secondary offering last week.

Cramer said the deal is great for Anadarko shareholders in both the short and long term.

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Coach (COH) : After spending years in the doghouse, is the turnaround at luxury accessory maker Coach for real?

Cramer said the turnaround in Coach began back in 2014 when Victor Luis took over as the company's CEO. Luis hit the ground running to rectify the many things that had been ailing the once-coveted brand, including a loss of exclusivity and losing touch with their customers. Under-performing stores were closed, products were overhauled and Coach made a smart acquisition to break into the footwear category.

All of these efforts began to bear fruit this year, Cramer said. Coach reported a beat on revenue and earnings in January, but with a decline in same store sales of 4%. The decline was bad, Cramer noted, but far better than the double-digit declines from a year earlier. In April, Coach reported another top- and bottom-line beat with flat same-store sales, followed by a 45-cents-a-share earnings beat in August with a 2% increase in same store sales.

Shares of Coach have been on the decline recently with the rest of the retail sector, Cramer noted, but he thinks the company is worth owning, especially trading at 15 times earnings with a 3.7% dividend yield.

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Sarepta Therapeutics (SRPT) - Get Report and Seres Therapeutics (MCRB) - Get Report : The stock of Sarepta Therapeutics soared nearly 74% today on news that the company's treatment for muscular dystrophy was approved by the Food and Drug Administration. But investors need to also remember that the same stock was obliterated in January, falling from $31 to $14, when clinical trial data looked less than promising.

Sarepta is the perfect example of what can happen when everything goes right, Cramer told viewers, and also a potent reminder of why early-stage biotechs are also highly speculative.

That's why Cramer wanted to circle back to Seres Therapeutics, which saw its shares plummet in August after trial data went awry.

Seres develops microbial treatments to prevent infections and restore the body's natural balance. Nearly 29,000 patients die every year from such infections caused by imbalances and the current standard of care, antibiotics, also kills the good bacteria, making reinfections likely.

Cramer said the worst-case scenario is already baked into Seres, but the company still has a clean balance sheet, no debt, $211 million in cash and strong partnerships, all of which make it attractive over the long term but only as a speculative investment.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.