Profits are tough enough to pocket in this market, and I just hate it when some of our readers miss out. For example, subscribers to RealMoney received a recommendation yesterday that brought in a bonanza in less than 24 hours.
At noon yesterday, Jim Cramer recommended buying January $65 call options (MONAM) in
for a trade in his blog. (Jim called them "mouthwatering," as a matter of fact.) Monsanto was scheduled to post quarterly results this morning, and Cramer expected an upbeat report -- especially because Monsanto's management had scheduled a road show with investors next week.
The options were priced at just above $8 at the time Cramer made his blog post and closed yesterday at $9. Meanwhile, Monsanto's shares were trading around $72. After the ag chemicals producer delivered a blowout fiscal first quarter this morning, Monsanto's shares opened nearly 10 points higher, sending the value of the options contracts as high as $19.70.
Several times this morning, Cramer recommended that RealMoney subscribers lock in their gains on the MONAM options, after more than doubling their investment in less than a day.
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David Morrow is editor-in-chief of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He appreciates your feedback;
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