NEW YORK (TheStreet) -- TheStreet's Jim Cramer and "Mad Money" Research Director Nicole Urken discuss Restoration Hardware (RH) ahead of its earnings report.

The company, which is scheduled to report earnings after the close on Tuesday, has had a monster run and is up 200% since its IPO.

Cramer added that its secondary offering wasn't able to slow it down much, as the stock has rallied hard since then as well.

That's why he suggested playing the name to the long side via call options. Calls will enable traders to benefits from an earnings rally, but limit their downside in case of a big miss.

Cramer added that a sour report could quickly send the stock down to $50, which is why he doesn't want to participate using common stock.

He concluded that this is a wealth and remodeling play, which is still a very strong part of the market. Homeowners look to Restoration Hardware as a way to remodel their homes for less money than hiring an independent contractor.

At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in stocks mentioned.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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