APP: collect 7.25% premium on this cash secured put with strike at $200 set similar to the one that will expire today 17th Apr.
this contract is to replace the one expiring.
new contract will expire in 4 weeks on 9th May,
APP had dropped more than 55% after peaking in mid Feb. That was a drastic drop and I believe the company business is still sound.
Valuation might seem a bit more palatable now and these type of software business is less impacted by the ongoing tariffs war.
Ongoing legal battles might dampen sentiments but these are notoriously hard to be of anything substantial beyond some fines and given the growth of the company, it might be possible to start to accumulate.
Happy to collect just the premium as well as part of capital preservation.
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