Apple Options Traders See Stock Hitting $3T Level

Apple Inc. AAPL shares edged higher on Thursday, sending the market cap near the $3-trillion mark.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Apple was the second busiest single stock option on Thursday.

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There were buyers of 23,500 of the July 14 weekly 197.5-calls at an average price of 30 cents per contract, Khouw mentioned.

Traders expect Apple to surge past a $3-trillion market capitalization by mid-July.

Citigroup reportedly said Apple stock has the potential for another 30% rall, with analyst Atif Malik starting coverage of the stock with a Buy'rating and $240 price target, which is the highest among Wall Street analysts, reported Bloomberg.

AAPL Price Action: Apple shares rose 0.2% to close at $189.59 on Thursday, and added 0.7% in Friday's premarket trading session.

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