Rick Ducat keeps his eyes on the software trade ahead of Applovin's (APP) earnings. He compares APP to the overall tech sector (XLK) and some of the standout software names like Palantir (PLTR). On the 1-year chart, Rick circles the highs hit in September & December of last year before pulling back so far to start 2026. He underlines $410 as a near-term area of support, with a higher volume trading area near $400. Later, Rick composes an example trade using a put vertical strategy and the Feb. 20 strike date.