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Boeing - BA - close: 85.37 change: +0.19 stop: 83.99

Company Description:
The Boeing Company is the world's largest aerospace and defense businesses specializing in innovative and capabilities- driven customer solutions. Headquartered in Chicago, The Boeing Company is a $66.4 billion business with 159,000 employees worldwide. (source: company press release or website)

Why We Like It:
BA looks like a potential play here for the bulls. The company dropped some bad news today suggesting they won't "rule out" any further delays for the Dreamliner production. The market did not respond negatively and traders were buying the dip late this afternoon. Shares tested short-term support at the 50-dma on Friday. We're suggesting readers buy calls now. We'll use a stop at $83.99. More conservative traders might be able to get away with a slightly tighter stop but if the major averages move down with any significant tomorrow we would expect to be stopped out. Our short-term target is the $89.50-90.00 range or the 100-dma, which ever is hit first.

Suggested Options:
We are suggesting the March calls.

BUY CALL MAR 85.00 BA-CQ open interest=3843 current ask $2.90
BUY CALL MAR 90.00 BA-CR open interest=3565 current ask $0.85

Picked on February 19 at $ 85.37
Change since picked: + 0.00
Earnings Date 04/24/08 (unconfirmed)
Average Daily Volume = 6.5 million
 

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