NEW DIRECTIONAL CALL PLAYS
The Boeing Co. - BA - close: 99.75 change: +1.82
Stop Loss: 97.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
It was a buy-the-dip kind of day for Boeing traders. Shares gapped down along with most of the market this morning. Yet traders jumped in at short-term technical support on its rising 10-dma. BA displayed impressive relative strength with a +1.8% gain and a new multi-year closing high.
What was even more impressive was the above average volume on the rebound.
The stock may have gotten a boost from an analyst upgrade this morning and a new $120 price target.
Right now BA is poised to breakout past round-number resistance at the $100.00 level. We are suggesting small bullish positions if BA can trade at $100.25 or higher. Our target is $104.50.
Trigger @ 100.25 *Small Positions*
- Suggested Positions -
buy the Jun $100 call (BA1322F100) current ask $2.39
Entry on May -- at $---.--
Average Daily Volume = 5.0 million
Listed on May 23 2013