Cramer's Driller Shorts
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Created by barrons3
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Date updated:01-08-2009

"I think these big drilling plays are all shorts. Remember the work that Eric Oberg did for us: The ETFs that are sector-related can be leaned on to break certain stocks. The worst, with the exception of the banks, is the oil/oil-service complex, which can be totally and completely motivated by ETFs." - Jim Cramer

symbol name last price % change open
  • +
  • OIH
    Oil Service Holdr
  • $117.35
  • -2.74%
  • $116.20

I think that the Oil Service HOLDRs (OIH) is the thing to watch here. We have seen a huge move in the likes of Transocean (RIG) and National-Oilwell Varco (NOV). They have been ramping.

People owning OIH also tend to own: BTUSPYXLEXOMDVNMPETSUN

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  • +
  • NOV
    Natl Oilwell Varc
  • $43.30
  • -3.52%
  • $43.01

The two worst? National-Oilwell Varco and Transocean. May I suggest January 60 RIG puts and January 35 NOV puts? Those could be big winners. Gunslingers should double up by buying National-Oilwell Varco January 25 puts for 40 cents and Transocean January 50 puts for a dollar.

People owning NOV also tend to own: AHMAIZALBAMPAVTAXCABBI

TheStreet.com Rating: B- What is this?

  • +
  • RIG
    Transocean Ltd
  • $84.91
  • -1.68%
  • $84.00

The two worst? National-Oilwell Varco and Transocean. May I suggest January 60 RIG puts and January 35 NOV puts? Those could be big winners. Gunslingers should double up by buying National-Oilwell Varco January 25 puts for 40 cents and Transocean January 50 puts for a dollar.

People owning RIG also tend to own: ABKBBDCFCDEFCXFREFWLT

TheStreet.com Rating: B- What is this?

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