Jim Cramer's Secret Stock Plays

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Let me explain what I mean with Research In Motion. You buy the RIMM March 90 calls -- deep in the money -- for $22. Put on a half position. Every time we get a subprime-related swoon, you pick at more. When we get sudden lifts, like today's, you peel off common short against it, never more than half the position, until you are closer to the calls being at parity -- or even -- with the common when you add them to the strike. Then, once you have your full position on in the March 90s, you bring in the common short gingerly, using wide scales. This way, as RIMM gets marked up at year-end, you will benefit from the appreciation. You will be putting out very little cash vs. the common. This is the secret stock replacement play that I have preached over and over to RealMoney subscribers. It has worked remarkably in 2007, as it has so often in this topsy turvy market.

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