CPSL is a beaten down stock, along with everything else. I have been long this stock for some time now, playing the high volatility by selling calls against my stock, which worked great until November, when the stock tanked below 2.50 and left me holding the stock and no value in the higher strikes.
I took a chance and sold a few March 2.50 calls at great risk, but they are now expiring worthless today and I am keeping the premium.
I have since added to my position, and averaged down below 2.50.
I am estimating the historical volatility at 97%. As a result, the back month 2.50 strikes are showing some decent premium. I am hoping to see a move in the next few weeks to the prior resistance level of about 1.45. If it fails to rally above that, I will sell my calls there. However, if it breaks resistance, CPSL has a great chance of heading back to higher resistance at 1.80, where I can squeeze more premium out of those calls.
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