Lightning Round: Apache, Apple, ICICI Bank and More

Apache : This Houston-based oil company saw shares fall, as political unrest in the Middle East continues. Cramer recommneds buying APA on this pullback.

Apple : When it comes to deep-in-the-money call options, Cramer recommends buying on scales. He thinks Apple could have another 10 to 15 points to the downside and if that happens, he said traders need to buy more options.

Bristol-Myers Squibb : Cramer doesn't think this pharmaeutical company has enough drugs coming down the pipeline. In turn, he thinks it lacks growth. He does, however, like its management team, but said that's not reason enough to buy the stock.

BHP Billiton : The "Mad Money" host likes this stock, but prefers Freeport-McMoRan FCX at current levels.

ICICI Bank : Being as central banks are tightening rates, Cramer isn't interested in owning most bank stocks.

When this story was published, Cramer's charitable trust owned Apache and Apple.

Call Cramer: 1-800-743-CNBC

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