Editor's note: At noon yesterday, Jim Cramer recommended buying January $65 call options (MONAM) in Monsanto (MON) for a trade in his blog. Monsanto was scheduled to post quarterly results this morning, and Cramer expected an upbeat report. The options were priced at just above $8 at the time that 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. Cramer's post below appeared yesterday on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.Monsanto Options Look Too Good to Ignore
1/6/2009 12:00 PM EST Monsanto ( MON) January 65 calls. Mouthwatering to me. The company reports tomorrow and then goes on a road show next week. They will be talking about their pipeline, and they will be bullish as all get-out. These ag stocks have been slaughtered, and I want to find a way to play the darned thing ahead of the quarter, and I stumble on this contract. It seems just right for me. Let me tell you how I would play this from the old hedge fund days. Obviously the stock is getting killed here, hence the opportunity.