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.

Don’t forget to check out our premarket coverage here.

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.

Check This Out: Nike, Constellation Brands And 3 Stocks To Watch Heading Into Friday

Photo via Shutterstock. 

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Posted In: Long IdeasNewsOptionsTop StoriesMarketsMediaTrading IdeasCNBCMike KhouwOptions Action
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