APP continues to carry one of the highest implied volatilities in my watchlist. I’ve been selling CSPs during pullbacks to capture richer premiums, usually around 15% out of the money. For now, I’m still avoiding assignment since my ideal entry is below $500.
Technically, APP formed a textbook cup-and-handle pattern between June and early August, followed by a beautiful breakout that I, unfortunately, missed. Based on current structure, the breakout zone near $470 could now act as a support level. I expect price action to retest this area before resuming its uptrend—my cue to take ownership then. Meanwhile, last week’s CSP expired worthless, and I’ve already opened a new one during Friday’s dip.
| Side | Price | Realized P&L |
|---|---|---|
| Buy Close | 0.00 | +100.00% Closed |
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I aim to attain similar results.