Carter Worth Says This Stock Is 'So Bad That It Is Good'

On CNBC's "Options Action," Carter Worth said Amgen Inc AMGN is such a prominent name and right now it's “so bad that it is good.”

Looking at the performance over the past two years, the chart shows the spread is basically health care up 40% while Amgen is flat, he said. The five-year chart shows this is “getting to be epic sort of spread between two very likeminded instruments,” he added.

Of late, Amgen is down around 27% from its peak, while health care is at a near high, Worth said: “That’s the opportunity."

However, looking at Amgen’s chart, it shows the stock has been on a “well-defined uptrend for the past 10 years,” Worth pointed out.

“It has bounded there before” and can bounce there again, he added.