Interesting APLS Put And Call Options For July 2026

Apellis Pharmaceuticals (APLS) option setups highlighted: selling the $18 put (bid $1.70) would obligate purchase at $18 but yields a net basis of $16.30 vs the current $19.55 (≈8% OTM) and, per Stock Options Channel analytics, has a 69% chance to expire worthless, implying a 9.44% return on cash committed (14.49% annualized) if it does. Alternatively, selling a covered call at the $21 strike (bid $2.40) against shares bought at $19.55 would cap upside at $21 but deliver a 19.69% total return if called at July 2026, with a 41% probability of expiring worthless and a 12.28% premium boost (18.83% annualized) if so. Implied volatilities are elevated (put IV 75%, call IV 71%) versus 66% trailing 12‑month realized vol, and SOC will track changing odds and contract histories—traders gain attractive income/YieldBoosts but face assignment risk on puts and capped gains on covered calls.

Analysis

The article outlines two income-oriented option strategies on Apellis Pharmaceuticals (APLS) using current market quotes. Selling the $18 put at a $1.70 bid would obligate purchase at $18 and produce a net cost basis of $16.30 versus the current stock price of $19.55; Stock Options Channel estimates a 69% probability the put expires worthless, implying a 9.44% return on cash committed or 14.49% annualized if that outcome occurs.

A covered-call alternative is to buy APLS at $19.55 and sell the $21 call at a $2.40 bid; the $21 strike is ~7% out‑of‑the‑money and would deliver a 19.69% total return if the shares are called at the July 2026 expiration, with a 41% chance the call expires worthless and a 12.28% premium boost (18.83% annualized) in that case, while capping upside above $21.

Implied volatilities are elevated (put IV 75%, call IV 71%) relative to trailing 12‑month realized volatility of 66%, signaling rich option premia that increase income potential but also reflect higher expected stock movement and assignment risk; Stock Options Channel will track changing odds and contract histories for ongoing monitoring.

Key Decisions for Investors

• Consider selling the $18 put only if you are prepared to own APLS at a $16.30 net basis; the trade offers a 9.44% return on cash committed (14.49% annualized) with a 69% estimated probability to expire worthless, but ensure you reserve capital for potential assignment
• Consider a buy‑write (purchase at $19.55 and sell the $21 call) if you prioritize near‑term income and accept capped upside for a potential 19.69% return if called (12.28% premium boost, 18.83% annualized), while recognizing a 41% chance the call expires worthless and you retain the shares
• Account for elevated implied volatility (puts 75%, calls 71% vs 66% realized): premiums are rich so income strategies are attractive, but size positions conservatively, monitor the option odds tracked by Stock Options Channel, and be explicit about tolerance for assignment and forgone upside