Jim Cramer Is Watching Tesla as It Reports Q1 Results Wednesday

TheStreet's Jim Cramer is watching Tesla as the electric car maker prepares to post first quarter results after the close Wednesday. He says Tesla happens to be the biggest battleground of this market right now, even bigger than Shake Shack. Cramer points to two analyst reports -- one from Jefferies which says investors should buy ahead of the quarter and one from Pacific Crest which says not to worry about Tesla's China sales. Cramer says this company is hated by some very rigorous people who believe that the last quarter was the beginning of the end. At the same time, Elon Musk came out last week with a battery announcement that has continued to create a halo over the stock. While Cramer says he loves the car, the stock has become too difficult to call. He advises investors to play with the calls, don't invest in the common because if it misses, this stocks gives up a quick 40 points. On the other hand, if it makes it, it'll probably go up 40.