There is much anticipation over the expected released of Apple's iPhone 5 Wednesday — but what if the latest version of the popular phone disappoints?
To options trader Jon Najarian, that's not even possible. After all, Najarian thinks Apple has several things working for it, making its stock attractive.
For instance, Apple won a legal victory over rival Samsung last month as an U.S. jury found the Korean company had copied critical features of its iPhone and iPad devices. In turn, Apple was awarded more than $1 billion in damages.
"The more enforcement they get and endorsement they get of that technology that is their intellectual property, that's bad for HTC, that's bad for Samsung, that's bad ultimately for consumers," said Najarian, co-founder of optionMONSTER.com. "I think perhaps the walls are a little too high and the patent coverage too broad, but I've got to trade the market we have, not the one we want."
Any continuation of legal victories could send Apple's stock over the $800 level, Najarian said.
That said, Najarian doesn't recommend investors add to their positions ahead of Wednesday's iPhone 5 announcement. For some, trading call spreads might be preferential over buying a $700+ stock.
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CNBC.com with wires.