Apple Inc. (NASDAQ:AAPL) Can Touch $100: Carter Worth

Apple Inc. (NASDAQ:AAPL) is set to announce its earnings this week, waiting to see the impact of the same on the overall stock price in the market. Apple’s Calls that were bought earlier for $4.50 are currently trading at a high of $5.30 presenting an opportunity for one to gain up to 18% on sale consequently highlighting the strong upside potential that the stock commands.

Apple Inc. (NASDAQ:AAPL)

‘Option call Trader,’ Mike Khouw, in an interview with Melissa Lee on CNBC, was quick to point out that at the time of buying the calls they had expected to make more money than the 18% gain. “We didn’t actually buy this calls hoping to make 18%, we were buying this calls hoping to make to make considerable more than that because it is giving us a leverage upside bet on Apple Inc. (NASDAQ:AAPL) which is  Exactly what I think we are going to want walking into earning,” Said Khouw

The good news according to Khouw is the fact that he bought the October options rather than the one that is near dated, thus the level of decay will not be accelerated’ as is normally the case with earnings reports. Khouw reiterated his desire to stay in the stock coming into the company’s earnings report as he continues to see a potential strong upside going forward.

Carter Worth, on the other hand, emphasized the fact that there is nothing wrong with Apple’s chart  as it is currently similar to that of  Facebook Inc. (NASDAQ:FB) and Google Inc. (NASDAQ:GOOG), an indication that Apple is approaching towards the top of $100.72. Apple Inc. (NASDAQ:AAPL) climbed to its high last year at the back of the release of iPhone 5 with many traders hoping the same trend will happen with the unveiling of iPhone 6.

“There is nothing wrong with the chart. The chart acts well  and the principle here is the same  with the principle with Google Inc (NASDAQ:GOOG) and Facebook Inc (NASDAQ:FB), which is to say we are approaching a past top and more often like a magnet you will make your way to that top” Said Mr. Worth

Disclosure: none

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