we think this is one of the five to be long going into earnings >> all right, thanks for that carter mikeu got the trade. >> yeah, so you know, microsoft from a fundamental point of view, i think they're very well set up what we have here is probably a little bit later stage migration by more mature companies to the cloud. i think they're very well-positioned in that space for growth, maybe even better than amazon is which probably was more focused towards, you know, younger companies that were sort of making that migration a little sooner. plus, they're also well-positioned at enterprise spending for those industries that are not likely to migrate completely to the cloud. those would include things like financial services and health care obviously they've demonstrated their ability to perform looking at earnings, the options market is implying a 3.6% move that's in line with the 3.6% or so that the kaine has averaged over the course of the last eight quarters one thing i would point out is at about 35 times earnings these are valuations for microsoft we haven't seen in 18 years 2003 was

we think this is one of the five to be long going into earnings >> thanks for that, carter mike, you've got the trade >> yeah, so you know, microsoft, from a fundamental point of view, i think they're very well set up what we have here is probably a little bit later stage migration by more mature companies to the cloud. and i think they're very well positioned in that space for growth maybe even better than amazon is, which was probably more focused towards younger companies that were sort of making that migration a little bit sooner plus, they are also well positioned in enterprise spending for those industries that are not likely to migrant to the cloud, and those would include financial services and success. and obviously, they've demonstrated their ability to concern. the market is implying a 3.6% move that's in line with the 3.6% or so that the company has averaged over the last six quarters these are valuations from microsoft that we haven't seen in about 18 years, 2003 was the last time we saw the stock trading at the multiples where it has been most recently. so a way that we ca

months, that kind of thing, that's the way to look at the market at this point. >> so mike, these insights of ka carterto the call for action of the week what is mike it had. >> yeah so we're looking at using zero cost putt spread callers. hedging one's portfolio depending how you do it can cost a lot of money so in addition to wanting to mitigate the down side risk which is obviously one of the objectives of putting on a hedge and preserving a little bit of upside otherwise we'd unwind our positions we're looking to put on a hedge and little options premium that's what we're trying to do when we put on a zero cost put spread caller so i will use an example spy etf, if you have a portfolio that behaves like it, many do, it's essentially just the s&p 500, that you can look to a trade like this to give yourself a buffer to the down side without spending premium, i was looking at 3.75 400. 435 put spread column in july. you sell july 3 buy puts, buying the 400 andselling 435 strike call by selling the outer put wing and upside call you are financing the purchase of a closer to at the money put in this way

especially the way carter played the game between you and mike wallace. but that was a great part of the story, he played both sides to get his point in. it reminded me a little bit of a story i heard out here of how get their way in things. one of the political reporters for abc san francisco affiliate. and he said when people come to town during elections they all line up in a hotel there's five rooms, abc, nbc, everybody's got their own room. they go from one to the others to nobody knows anything nobody knows anybody. but in order to get on the air the politicians are always using your name. so every time they answer you and say bob this bob this bob this. and the guys have but the smartest of them all was bill clinton because he only said your name once i was the soundbite he wanted to go on because he knew that increase the sound bite he wanted on because your name wasn't it. >> grunwald actually told him that these on-air people have such a vanity if you use their name they will use the bite. so he then did an interview with 60 minutes during that

carter, what about you what do you think about the trade from mike? >> i'm all for it, of course, we collaborated on it but here's the thing, remember, the gdx is an etf and you have about 50 gold miners in it, but the two big once are about 25% and i believe we've got newmont investment day coming up next week there'll be a lot of information there. either way, having dropped 33% versus gold down 20. and i was just starting to put in its footing, this is a very asymmetrical trade if you're wrong, it's probably going to muddle, but if you're right, it can fly. >> what i said at the outset -- >> yeah, go ahead. >> if you don't mind, i'm going to throw in here carter was pointing out that newmont will be presenting next week that's a material catalyst overall. why? it's the largest constituent of the index by far it constitutes more than 15% of gdx. if we get any kind of a material move in newmont, of course, just as a single constituent itself, it represents a material part of this index and would drive it higher >> let's move from gold to green. morga

carter, kick-off it off. >> sure, netflix amazon in there as well. >> tony? >> fading the strength here on intel, selling may call credit spread. >> mikeghts and calendar spreads on netflix going into earnings. >> that does it for us on "options action" we'll beback next friday at 5:30 eastern. meantime don't bo anywhere "mad money" with jim cramer starts right now. have a great weekend >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm trying to make you money. my job is not just to train but educate and teach you. call me or tweet me @jimcramer when is it going to come in already? i mean, that is the question on everybody's lips but it's the question as the

mike, what do you do now >> okay. so, you know, the first thing is that obviously, as carter pointed out, if you get it wrong, often timeou put premium into a trade and give back 50% a little bit more right after a catalyst like this one, that you just, you know, head for the exits immediately i can understand if a lot of people put this on might have done that. had you done that, so, ended up just selling the longer dated call because the shorter dated one expired this week, that's over and done with, you would have lost 2.5% of the current stock price less than 7.5% netflix gave back over the week they reported earnings but still 2.5% is quite punishing in the grand scheme of things if you are inclined to believe the stock is range-bound that's a new thesis and it's a new trade we don't advocate trying to rescue a bad trade but if you have a new theater sis play it if you have a existing position use it. if you are still inclined to play netflix but believe it will be range bound for some time you could convert existing structure into a short iron kcondor i was looking to sell the june put spread and sell against it w

mike. >>> this morning president biden marking 100 days in office. he will be trying to georgia rmer president carterst lady roslyn carter before attending the rally today. jobina at the live desk breaking down his message to the nation. >> yes. the president outlines his costly agenda to make the country, saying the nation is in a once in a generation moment saying we are on the move and the u.s. can't stop now. biden urged congress to pass his infrastructure bill and a sweeping child care and education plan, calling for universal pre-k, paid family leave and townships-free community college, but his plan comes with an expensive price tag with more than $4 trillion in new spending, calling on only the wealthiest americans and corporations to foot the bill. >> i won't impose any tax increase on people making less than $400,000, but it is time for corporate america and the wealthiest 1% of americans to begin to pay their fair share >> republicans in the room sat mostly stone-faced. biden is open to partisanship but not a blockade, saying doing nothing is not an option. the plan now is for the presiden

carter on the front porch walking them out. from here, the bidens will travel to a drive-in car rally to commemorate the 100th day in office. former vice president miketical arena. he'll be speaking tonight to a crowd of evangelical voters at a gala in south carolina. his first public remarks since leaving office. pence is expected to take aim at president biden's first 100 days in office, contrasting them with former president trump's first 100 days and argue that the way forward for the republican party is to unite around an agenda rooted in conservative principles. the justice department releasing new body camera footage from the january 6 insurrection showing the moment when rioters spray an unknown chemical substance at brian sicknick and other officers. he later died from natural causes after suffering two strokes and while two men is charged with assaulting him no one has been charged in his death. joining me now scott mcfarland. what does the video show us about the attack on officer sicknick? >> reporter: here we are four months after the attack and still getting new images of the brutality and the sequence of events that day. newly released

mike and his team for accomplishing 50 years in business. here's to 50 more. madam speaker, i yield. the speaker pro tempore: the chair now recognizes the gentleman from georgia, mr. carter, for five minutes. mr. carter: madam speaker, i rise today to remember and honor bobby ryan of heinzfield, georgia, who sadly passed away on march 20 at the age of 65. bobby lived a remarkable life and touched countless lives. he was a lifelong residence of heinzville, georgia, and a proud graduate of bradwell institute class of 1974. everyone who knew body remembered his kind spirit. he was a former city councilmember and served in various capacities in many organizations, including liberty county hospital authority, liberty county chamber of commerce, diversity health clinic, and heinzville housing authority. through every position he had, he worked to better his community and every life he touched. many say his greatest love was his family and those who knew him best know his greatest love also was his lord. my thoughts and prayers are with his family, friends, and all who knew him during this most difficult time. madam speaker, i rise today to congratulate brunswick high school st