schlumberger, exxon and it's a very cons straighted bet. i want to look out a few months. that's the chart of the xle, the one yifrmt look at the downtrend. $60. looks like that was a level that it broke out and got going to the upside here, but if it fails at that downtrend, i think it sets up for an interesting trade. i was looking out at june expiration when the xle was trading 63.5. you can buy the june 56 mutt spread paying $1 towards the june 60 put and selling one in the june 50 put and you can make up to $3 between 59 and 56 and here's the thing. this is not a massively widespread here. really targeting a breakdown level here. i don't want to risk a whole heck of a lot and i like the technical side. >> this is an inexpensive options trade in an area that's been highly volatile. take a look at chevron's most recent earnings. actually if you keep an eye on product storage. there also we're basically at all-time highs so, you know, that big margin that they are making on the refining side, operating full out on the operating size. that's an area that won't continue to

we have been buyingle schlumberger for my charitable trust.ike schlumberger because it is already doing well despite the design in stock. speculators may want to gravitate to the oils that have said they don't need financing. namely anadarko or how about beaten down ones that may spring back if they have to raise cash. here i'm thinking about whiting petroleum or wpx. those are for only real risk taking speculators. suffice it to say when the biggest most correct bear says perhaps the bottom has been put in, that's good enough to spark a rally so the largest real worry out there gets taken off the table. that's a recipe for higher stock prices at least until oil gets so expensive we need to start cutting numbers for the companies that use too much of it. stick with cramer. with extraordinary offers on the stylish, all-new rx... and the dynamic nx. ♪ this is the pursuit of perfection. >>> all small business owners in day toe that beach florida. they are listening closely when the presidential candidates talk. they want to know who's going to ha

government, i want to worry about earnings and schlumberger has them. haters gonna hate. there will always be critics against the fed, but today i found the fed measured and thoughtful. on "mad money" tonight, united continental ceo recently returned to the helm of the company after receiving a heart attack and a heart transplant. how was he welcomed back in the activist battle? i'll tell you if a boardroom fight is just getting started. then i'm focusing on trump and clinching the gop presidential primary nomination, i'll tell you if his economic plan is viable. and chipotle forecasted its first-ever quarterly loss yesterday. as sales continue to slide, i'll tell you if it's worth sticking with the stock. so why don't you stick with -- on the 11th anniversary -- cramer! >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question, tweet cramer, #madtweets. send jim an e-mail to mad money@cnbc.com, or give us a call at 1-800-743-cnbc. miss something? is that ice cream? no, it's, uh breyers gelato indulgences. it looks like ice cream. it'

footlocker is joining the index, replacing cameron which is being acquired by schlumberger.he changes to the index will be made after the close on friday april 1st so the retailer is joining the s&p 500. you can see the stock about 1.6% after hours. melissa. >> seema, thank you. seema mode. pete najarian, you're a big footlocker fan. >> i love this name, and i think they would be performing better than it has. we watched some of the moves and some of the other athleisure names. you would expect footlocker to really react better than it has. it has not and look at this thing from a valuation perspective and trading at 15 times earnings. i like this name. going to the s&p, a lot of people are going to start to jump at this. i actually think you're not chasing it if you decide to go after it. >> nike says direct to consumers stronger about athleisure at finish line. >> did you see finish line's numbers last wyche? they had some disappointing projections going forward, but numbers were very strong, and it seems like they are starting to get their act together, so, yes, they have

at xle, the energy sector, you've got chevron, exxon, and schlumberger. you don't want that. want smaller players. you want to buy the 30 put, sell the 25. a cost you $1.50. this goes out in june. so if there is a hiccup going into earnings season, this is where you will see a lot of volatility pickup. so you can protect your portfolio and these are the companies that will do the dividend cuts and have distressed if oil does go down. julie: and these guys will be critically vulnerable because of the run-up we have seen in oil and energy stocks? absolutely. this etf has performed 27% in the last month. if you look at the number two holding in this, it is chesapeake energy. so these are the names that are definitely distressed and art strapped for cash. -- cash for trash. julie: all right. we will leave it at that. ♪ let's start with a check of the headlines. mark: belgian prosecutors say police raise are underway around the country. islamic state claimed responsibility for this morning's deadly bombings in brussels. authorities have discovered a nail bomb, chemicals, and an is

. >> caller: home depot, netflix, apple, nike and schlumberger. >> okay.ve got a retailer, we've got an oil and gas service company. we've got a footwear company, i'm not going to say that's the same as home depiano. netflix, i'm regarding that as apple. technology, technology, entertainment, retail, but you know, footwear. oil service and then hardware retail. i think that's fine. i'm going to say that's good enough. >>> that's it? i guess we got to still with cramer! our cosmetics line was a hit. the orders were rushing in. i could feel our deadlines racing towards us. we didn't need a loan. we needed short-term funding fast. building 18 homes in 4 ½ months? that was a leap. but i knew i could rely on american express to help me buy those building materials. amex helped me buy the inventory i needed. our amex helped us fill the orders. just like that. another step on the journey. will you be ready when growth presents itself? realize your buying power at open.com congratulations to the team at ultimata is a loan and mary dylan for blowing the doors off t

schlumberger is the exception. i still believe in oil every time it goes up to 40 and change it will bring out more oil and it will go right back. that's self-fulfilling. six reasons yellen was dovish on trade. she gets it. there is no gun to her head, no hurry. more "mad money" ahead. could carl icahn make a smoother split? xerox's decision to separate and nothing's certain but taxes and death. my investment that's in a business that isn't going anywhere. all your calls rapid fire in tonight's edition of the lightning round. so stick with cramer. e*trade is all about seizing opportunity. so i'm going to take this opportunity to go off script. so if i wanna go to jersey and check out shotsy tuccerelli's portfolio, what's it to you? or i'm a scottish mason whose assets are made of stone like me heart. papa! you're no son of mine! or perhaps it's time to seize the day. don't just see opportunity, seize it! (applause) seize it! before the band separated over unknown creative differences. [ crash ] and reunited three d

transocean, a rig company and schlumberger, about how it could be years before things get better in the oil patch. i couldn't imagine a better reason to take profits in the oil and gas stocks than these two companies seeing siren songs for the near term. the stock's barely budged. some went higher. ones downgrade. that's called resilience. and tech. we've been devoid of tech news lately but the group keeps climbing. the pre-february bottom days, the choice of direction was down, now seems higher. what's the significance? once again when you have groups that rally on no news, that is a sign of money flowing in and belief the world is getting stronger, not weaker. hey haven't had nasty news out of china. we had bullish figures from europe last night. apple, so important to the complex rallied on what many said was a nonevent of a meeting smaller phone which judging by the reaction today many people do. so here is the bottom line. bid underneath is real. buyers were ready for the down draft. they used weakness to put money to work, which is exactly what happens when big money thinks that i

. >> caller: home depot, netflix, apple, nike and schlumberger. >> okay. an oil and gas service company. we've got a footwear company, i'm not going to say that's the same as home depiano. netflix, i'm regarding that as apple. technology, technology, entertainment, retail, but you know, footwear. oil service and then hardware retail. i think that's fine. i'm going to say that's good enough. >>> that's it? i guess we got to still with cramer! like new false lash drama mascara get 400% bigger volume. and new stay luscious lipstick. color and moisture that last all day. the new queen collection is crowned jill and kate use the same dishwasher. same detergent. kate adds finish jet-dry that dry dishes and prevent spots and film, so all that's left is the shine. for better results, use finish jet-dry. look like this. feel like this. look like this. with dreamwalk insoles, turn shoes that can be a pain into comfortable ones. their soft cushioning support means you can look like this. and feel like this. congratulations to the team at ultimata is a loan and mary dylan for blowing the doors off

i've never bet against schlumberger. but they're a very strengthened company here. because they took action early. >> yes. with all of that, about a half dozen dow components in the green. let's get to bob pisani on the floor. >> once again, fairly muted response here. volume very much on the light side. we saw this yesterday also. ten sectors of the s&p 500 are down. very, very small declines. take a look here. on very light volume. fractions of a percent. industrials, financials, consumer discretionary and all the sectors down roughly a half percent. airlines may open down 3% with united, delta all down about 3%. southwest not down as much. with the exception of jetblue and virgin, all the airlines have had modest gains this year. in travel, you mentioned carnival, the usual once you might think might be affected, carnival, priceline, royal caribbean down 2% roughly. the thing is none of this has lasted in the past. one way to look at this is to look at the airline etf, j.e.t.s., it's a basket of global stocks versus the s&p 500. the s&p is the orange line. for th

it's obviously concentrated between exxon, chevron, schlumberger. >> valuation is going to matter with some of these big cap energy names. chevron trade is probably close to 40 times trailing, 21 times forward earnings. you have to ask, is that the right valuation in this environment. i don't know the answer to that. but i think we're getting a little bit stretched. >>> still ahead, where are the ipos? what it could mean for your money, right after this break. plus, it's st. patrick's day, and everybody's portfolio could use a little bit of luck this year. so the traders have four lucky stocks that they'll name later this hour. the heirloom tomato. intensely-flavored. colorfully-diverse. beautifully-misshapen. cultivated for generations, it's the unexpected hero of any dish. when you cook with incredible ingredients... you make incredible meals. fresh ingredients. step-by-step-recipes. delivered to your door. get your first two meals free blueapron.com/cook. >>> welcome back to "fast money." the s&p 500 may be up 13% from the recent low. but one part of the crucial market is running dr

we mentioned specifically schlumberger on friday. said at 27 times forward earnings it makes no sense. that was down today. i think the crude movement is over to the upside. the fact that the ovx didn't rally today concerns me a little bit but you've got to give it a couple more days to play out. >> how about you, karen? >> i agree. it's been almost 50% from 27 to touching near 40. that seems overdone, so some of those stocks that were sort of a little sliver of equity that just exploded, the chesapeakes of the world, you know, that one i wouldn't -- i wouldn't touch it here. so i think we have to just sit back and watch for a little bit. it's so dangerous. >> right. >> to jump in right now. >> yeah. so on crude oil i would argue that perhaps the 45% to 50% rise that we've had may be the reason why the market has sold off a little bit. if we have that negative correlation up at these levels gas prices have started to come up a little bit, albeit they are still very low. >> we may be past nirvana. it's one day. it's hard to kind of pu