Net Call Action Furthers Valuation Havoc

Cramer sees more valuation blurring with the current action in Internet-related calls.
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You want a good laugh? Take a look at the


(AMZN) - Get Report

calls. The January 390s, with the stock at 358, are at $20! The January 350s are at $37.

You are almost at the once-laughed-at $400 price target if you use these instruments.

The Net is playing havoc with every conceivable valuation benchmark, so I guess it is reasonable to think that the calls on the Net would do the same. But this is ridiculous.

Yet, here I am, sticking with a little Amazon if only because I fear I would slit my throat if I were not on some of these horses. I can't imagine what it is like to be a professional and


have some of the Net on your sheets. How can you deal? How can you not be involved? It is simply too painful to let this move go by without being involved, albeit, in my case, in a small way.

But not in the calls. That's simply not working at all. They are way too dear, even for this lover of premium.