Shortly after the opening bell, we will be selling 200 shares of Apache (APA) and 200 shares of Schlumberger (SLB) . APA recently traded at a bid/ask of around $52.80/$53.29 and SLB recently traded at a bid/ask of around $78.46/$78.79. Following the trades, we will hold 2,000 APA shares and 1,100 SLB shares, representing roughly 3.85% and 3.21% of the portfolio, respectively.

The U.S. launched several tomahawk missiles on Thursday evening aimed at a Syrian government airbase in response to a chemical weapons attack that killed dozens of civilians earlier in the week. From purely an investment perspective, oil and the energy sector have seen a bounce as a result of the strike. Often, global geopolitical conflicts can cause oil to rise due to the near-term uncertainties over the impact on production and delivery channels. When such conflicts occur in the Middle East -- the oil-rich region of the world -- traders take the opportunity to speculate.

Although Syria has limited oil production compared to its neighboring countries, the mere risk of the conflict spreading is enough to push the commodity higher for the time being. Due to Syria's location and alliances with big oil producers, any escalation of the conflict has the potential to affect supplies. Recall that a global supply glut has been the major culprit of declining oil prices over the past couple of years, recently causing OPEC to agree to output limits.

That being said, the move in the after-hours and the pre-market is almost purely speculative, based on the missile strike last evening. We do not view the push higher as sustainable in the immediate-term -- Syria has little impact on oil fundamentals and the premium added to the trade from political risks is fragile at best. As such, the resulting move in the energy sector, many of the names being pulled higher as part of oil ETFs, offers us an opportunity to trade around our oil names. While we do not typically like to trade in a narrow range, we want to be able to create some room to add to these positions should oil drop in the coming days, dragging share prices lower.

In addition, given our relatively large positions in the sector, we believe these can be targeted during this mini-rally in oil to build additional cash for the portfolio after our purchases this week. We still like to maintain our relatively high cash balance in this environment, both to protect from uncertainties and also to give us firepower to add to names on broad pullbacks.

We want to make it clear that we still like these names, but we see an opportunity to trade in the near term. We have itched to buy APA near the $50 level, but have been unable to in recent days due to our large weighting, but this trade creates additional room. On SLB, the stock has seen some resistance around the $80 level, so we will trim here slightly and look to buy lower if the stock drops near our cost basis.

We are not trading Cimarex (XEC) as we have a lower position relative to APA and still believe the stock remains cheap. Magellan Midstream Partners (MMP) remains our top yield play for the portfolio and we would still look to add on any weakness into the mid-$70s.

Action Alerts PLUS, which Cramer manages as a charitable trust, is long APA, SLB, XEC and MMP.