The AppleOption Auto-Trade Portfolio has opened two new positions during today’s sell off.

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The AppleOption Long-Term Portfolio will buy back a position of Apple (AAPL) Stock Options.

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Piper Jaffray has recently added Apple (AAPL) Stock to their Alpha-List. This list represents companies who are likely to have near-term success. They specifically comment that the September 9th “Let’s Rock” event will be a potential catalyst. Over the past 3 years Apple stock price action from the week before the event o the week after has been greater than 4%, while extending this period through the holiday season results in +47%.

As for the iPhone, Apple has increased the potential subscriber base from 370 to 660 million (+78%) after the second phase rollout. The iPhone is still anticipated in Russia in the coming months via Vimpelcom which has 42 million subscribers and MTS with 61 million. These two would expand the potential subscriber base to 760 million.

“We expect this rollout to drive upside to our September estimates of 4.1 million units,” the analyst said. “We believe the additional carriers added in the September quarter, as well as the likely addition of Russian carriers by the end of 2008, are under-appreciated by the Street.” - Piper Jaffray

They maintain a Buy rating on Apple shares with a $250 price target.

A formal invitation for Apple’s special event “Let’s Rock” on September 9th was announced today. One week from today, Apple will usher in a new family of iPod digital music players. The event will be at the Yerba Buena Center for the Arts in San Francisco at 10:00 a.m. local time next Tuesday.