JNPR gapped down on the CSCO news but rallied in the afternoon. The Feb 30's were up a dime the last time I checked them, so you could have put on the trade at a fairly attractive level. Cramer talked about it today and said to do it as a backspread on a 1:3 ratio, selling Febs then Mar's.
yest ... was too busy watching other markets to leg out at attractive levels so I scratched on my feb 30 X mar 30 C ratio spread
I sure most of you are aware he has been busted for pumping & dumping in the past. But then too so few have not.
No he hasn't. Get your facts straight. There was an investigation and he was exonerated unconditionally. Your post is irresponsible and slandarous. Shame on you.
It's kind of hard to criticize a guy that has made over a quarter billion dollars trading. When you make that much money, you can criticize Cramer.
Cramer has plenty of faults, but for my money he is about the only guy you can read everyday who constantly makes sense. He has a lot of sources and gives you a good feel for the Wall Street consensus thinking. You may not necessarily want to follow that consensus, but I think it's valuable to know what it is. Cramer claims to have made a lot of money trading options. I have no idea how sophisticated he is, probably a lot less so than guys here, but he has a good feel for things. I also find it very educational to have the guys here dissect his suggestions.
JNPR announced an aquisition this morning and the feeling that they perhaps overpaid plus arbitrage selling have pushed the stock down some $3.00. The IV's however have gone up a bit from already high levels. My take on this is the stock will recover the gap down and vol's will come in over time. What would be the most aggressive way to play this scenario, using no more than two legs and no naked shorts?