OptionsXpress CEO on Schwab Takeover

In an effort to bolster its position in options trading, brokerage firm Charles Schwab on Monday announced plans to buy OptionsXpress.

Cramer has long liked OptionsXpress , a Web-based broker with headquarters in Chicago. It allows the individual investor to use derivatives, like options, to possibly make more money than they could through ordinary stocks, he said. The stock continues to perform well. It has posted a 21 percent gain since Cramer interviewed CEO David Fisher on Jan. 28 and its stock was trading at $14.53 a share. The S&P has climbed by just 1.7 percent over the same period.

So what should investors do with OptionsXpress now?

"It’s an all stock-deal, which means the big question here is whether it makes sense to own discount broker Charles Schwab now that it’s acquiring a terrific online derivatives platform in a transaction that’s expected to be additive to earnings within the first year," Cramer said.

"On the other hand, it’s tough to own the financials in an environment where Elizabeth Warren — the media darling who’s setting up the Consumer Financial Protection Agency for President Obama — is on the warpath against the banks with no end in sight."

While that remains to be seen, Cramer said one thing is for sure — OptionsXpress CEO David Fisher did the right thing for shareholders by getting this deal done. Watch the video to see Cramer's interview with Fisher, where he shares his thoughts on this "transformative deal."

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com