We’ve been rather cautious over the last few weeks amid the market turbulence because volatile stocks make for extremely wide swings in options. As we were recently reminded, even if you have a protective stop loss, you can still feel the sting. Despite that sting, we had a hefty win last week when we closed out the balance of our Chipotle Mexican Grill ([stock_quote symbol=”CMG”]) June $500 calls.

Even with that success, we’ve largely stayed on the sidelines dipping our toe into the market with one or two positions, and currently we have our two Apple ([stock_quote symbol=”AAPL”]) calls. The thesis behind these calls has to do with the pullback in the shares, but also the coming March event at which Apple is expected to take the wraps off its next generation iPhone. Already there is chatter coming out of the Asian supplier community about production ramps.

This week, we have the Mobile World Congress, once a hotbed of new mobile phone and smartphone models for the coming year, but the industry event should still result in a number of technology and device announcements that make it worth paying attention to as part of our Connected Society and Disruptive Technology investing themes. Much like at the 2016 Consumer Electronics Show, even though Apple will not be present, I expect there to be much rumormongering about what Apple will unveil in the coming weeks. This keeps with the historical trend of “buy the rumor, sell the news” when it comes to Apple’s events.

Looking over our two Apple calls, the AAPL March $100 calls we issued a “Buy” rating on are down modestly, and we are maintaining our “Hold” rating on them. Turning to our AAPL March $105 calls (AAPL160318C00105000), those are down around 33% as of Friday’s close.  Using that pullback, we see this as an opportunity to add to that position at current levels, which will reduce cost basis, so we are maintaining our “Buy” rating on those calls. Because we’ve now scaled into this call position, we do recommend investors set a protective stop at $0.22, which will help protect capital should the market once again get a little topsy-turvy.

Another company that is bound to get a lot of positive press this week is Facebook ([stock_quote symbol=”FB”]). Yes, company officials will be at Mobile World Congress, likely talking up its virtual reality efforts, but what caught my eye is the news the company will pursue another layer of monetization as it expands advertising past its Facebook and Instagram properties to include its Messenger platform.

These efforts have been wildly successful and this bodes very well for revenue and profits at Facebook. We see a way to play this by adding a “Buy” rating to the Facebook (FB) April $110 calls (FB160415C00110000) that last traded at $3.40 and expire April 15. Even though I’m inclined to use any material weakness to add to this position given Facebook’s monetization track record as part of this trade, set a protective stop at $2.00.