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Pete Najarian's Second Derivative Trade: Apple

Apple led gains in tech Wednesday after the company announced it had 10-times as many pre-orders for the 4G iPhone compared to what the 3G iPhone commanded upon its release.

The positive headline is yet another reason why Pete Najarian of optionMONSTER.com is a fan. Everything that they're doing, they seem to be doing right, he says. Najarian noted that other cellular companies can't compete with the iPhone, especially Nokia .

Chip maker Marvell Technology is another way to get exposure to Apple, he added. The company produces the Wi-Fi chip for the iPhone.


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Trader disclosure: On June 16, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour owns (AAPL), (BAC), (NOK), (SBUX); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC); Adami owns (MSFT); Adami’s wife works at Merck; Terranova owns (IPSU), (BX), (PFE), (UDN), (GMCR), (RSX), (TER), (AXP), (BMO), (BBY), (DIS), (XCO), (SWN), (AAPL), (IPI), (SU), (V), (TEVA), (FXE), (FXB), (XOM), (COP), (OXY), (RDS.A); Terranova owns S&P Futures; Terranova owns UK Pounds; Terranova is short the US Dollar; Edwards owns (PM); Pete Najarian owns (AMD) calls; Pete Najarian owns (BAC); Pete Najarian owns (BBY) a call spread; Pete Najarian owns (C) calls; Pete Najarian owns (TCK); Pete Najarian owns (CNI); Pete Najarian owns (NOVL); Pete Najarian owns (MRVL); Pete Najarian owns (XLNX); Pete Najarian owns (MCD) a call spread; Pete Najarian owns (TEX) calls

For JoeTerranova
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Deutsche Bank owns 1% or more of KBH, TOL, HOV & RYL
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Deutsche Bank provided non-investment banking securities-related services to PHM, HOV

For Anthony Scaramucci
SkyBridge Capital owns (RAI)


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