>> caller: yes, jim, the pending oil crisis, nobody seems to be mentioning the oil zrdrillers, transocean and diamond offshore, aren't they going to come to life one of these days >> wait a second, let's think about this transocean is up 28% diamond offshore, not as much, but not as high quality. i suggest that you buy slummer j jay. go high quality. scott in colorado, scott >> caller: i heard a bit of scat of blackberry goinginto cyber security is blackberry a buy? >> i happen to think the intellectual property is worth about -- i used to say $8, but worth the whole price of the company. blackberry is doing well i'm not sure about their cyber business i just know that they built a very under the radar good business after being over the radar for so long. so i don't mind owning that stock. >>> the rally has as much staying power as the truce does. and boy, what a breath of fresh air that is. on "mad money" tonight, international flavors and fragrances announced a $7 billion deal a few weeks ago is it the sweet smell of success or does the market think it's gone sour? >>> and some of the b

it broke out to new highs today, just under $20 a share getting back to transocean, they're taking offhe may 12th calls and rolling up, going out to august, 20,000 august 13 calls bought it's part of a spread. they're paying about 65 cents for these 13 calls so they're buying them with 20,000. that's an aggressive buy interesting to see, and getting a little time. i'm in these as well i went all the way out to august with them. we'll see if energy continues to propel to the upside it has been nothing but strong across the board >> wow all the way out to august. what's the update you have for us >> well, you know, just two weeks ago, we talked about baker hughes they were buying may upside calls. they paid around 60 cents for those. those got up to close to $2. took those off that's part of the strategy. sell a little into these things, if they start to move, you ask all the time, how long do you hold if an option doubles, you take off. jon will take off half, i'll take off half. you have something in the game to play, but i took all of the baker hughes off, and now i still have plenty

if you want to get a little more exciting, you can look at some of the offshore drillers, like a transocean this is not for the faint of heart. this is a stock that trades at a discount to book value they have rigs in cold storage that at the higher prices should be coming out of cold storage, should be getting good contracts. but you have to be comfortable with the risk that a highly indebted low price to book company like a transocean entails. the point being is between those two poles of the spectrum, you have refiners, you have smaller exploration and production companies. pipeline companies, some with dividend yields, some without. so many ways to play this. >> where is the juice, erin? >> a good point you raise is that the oil service industry has underperformed by about 7.5% year to date you have seen a pretty significant underperformance of the sector part has been a lot of the blockages we have seen, a lot of the transportation issues we talked about what you're now starting to see is offshore space, you're starting to see rig counts start to increase slowly but surely. you have al

>> we own both, transocean and noble energy.e are breathing a sigh of relief about the fact that it looks like the trade war with china has been averted. we have nafta on the horizon, that will be tricky because we been crammed down with timelines of things i shouldn't handle some time ago. we're presidential elections in mexico and that will be the next hot lightning potential for market either up or down depending on how nafta plays out. >> thank you for joining us but we will see you soon. take a look at this. dozens of wishers reading george h w bush as he arrived in maine. he was hospitalized last month in houston for a blood infection. present trump is demanding they investigate the informant inside his campaign. he calls the russia probe ridiculous. ♪ ♪ local ♪ local ♪ ♪ ♪ ♪ ♪ ♪ the day after chemo might mean a trip back to the doctor's office, just for a shot. but why go back there, when you can stay home, with neulasta onpro? strong chemo can put you at risk of serious infection, which could lead to hospitalizations. in

so you've got sea drill out of farway, but transocean, diamond offshore drilling, and, of course, therated oils -- integrated oils, exxonmobil moving higher, chevron is also a big mover. so they're all leading the s&p 500. we have turbulent time, certainly. this morning goldman sachs comes out with a statement and says, it's a call, and says you need to up your cash, meaning sell some stocks, keep a dry powder pile of cash because we see such jittery moves in the markets. let's bring in scott redler, ira epstein and phil flynn. ira, the market's barely down, do you agree? >> the market's going nowhere all year, is what they're saying. i did a study that i sent to my clients two days ago, and i showed them where the market was january 2nd til where it was yesterday, and we're about the same. you've got the russell up, the nasdaq up, the s&p down and the dow down. you're going nowhere. this is now a trader's market of stocks, not of the indices right now. and i think by the end of tomorrow this iranian deal is done, out of the market, doesn't matter. liz: oh. do you agree with that, sco

watching, but i want to continue it because it is so broad, doc you look at your own holdings, tranc transocean, you bought today >> this is one with really heavy call activity all the way out into november. they're buying huge amounts of upside calls stock's already up, like carey said, another stock. this is up 44% now from these lows so tremendous turn in these names. so it's not surprising that once again rather than buying a stock that has just gone from $9 to $13, that people are saying, you know, let me take a 50 cent bet that it goes up another $3 by november >> the real question then, steve, as i know you're not a big player in these names, is at what point does it become punitive for the stock market? right now, it doesn't appear to be but you would think rising oil, rising gas prices, which have been consistently rising, and at some point, you have to believe that's a knock on the consumer when is it >> yeah, well, if we were just limited to energy prices, then i wouldn't be as concerned but we're seeing other commodity prices go up as well and we're hearing from companies about pres

we also see transocean drilling company along with other energy companies rising as the price of oil also bounced back. let's talk about pain trade. gtv is where you can find the charts in our library of charts. this is the 10 year treasury futures board at a low before the rally, which was setting off before the fed minutes. italian turmoil caused a rally in bonds and yields to fall. this was down on most 4% tuesday, bounced back by at least half in this latest session. let's go to another chart. investors rushing to trade the largest financials etf. look at the spike. -- that traded tuesday, the most since february, almost double the average. that has a lot to do with money flowing to the financials. it is basically reversing course. ramy: a lot of tension we are talking about. donald saying he will put do tariffs onnew canada, mexico and the e.u. talk about the weight in terms of the markets. su: there has been harsh criticism of the flip-flop of the trump administration. let's take a look at steel stocks. they rallied strongly, given the latest developments. concern is that this