Moreover, Intel's a really tough call because when these margins expand, earnings tend to expand even stronger giving you a moment where you could pick up five points like that, just like the old days. The idea of losing that upside vs. buying the call back at a small loss should tempt pretty much everyone who does these call programs, even the one on auto pilot -- the annuities.

That's why I expect the scramble for some of these techs now that the bellwether is no longer saying tech could recover, but that we are in a full-blown recovery to be even more dramatic than otherwise would.

Throughout this difficult period I have listened as more and more people sell calls to bring in income, a tactic I specifically am against in my new book, Getting Back to Even, in which I recommend stock replacement and deep-in-the-money calls like our excellent options newsletter written by Pete Najarian.

As I always said at my hedge fund, the strategy works until it doesn't and when it doesn't it gives up a huge amount of opportunity that offsets all of the little gains you have made. (Do not even get me started on selling out-of-the money puts creating reckless exposure.)

The price for that strategy will be seen all the way to Friday.

And it should produce smart gains for those who took the other side of the trade.

Random musings: I hope to see you for my book signing in the beautiful Borders in Bridgewater, N.J., after tonight's "Mad Money" show!

Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer had no positions in the stocks mentioned.