NEW DIRECTIONAL PUT PLAYS
Boeing Company - BA - close: 104.16 change: -2.07
Stop Loss: 105.55
Current Option Gain/Loss: Unopened
Time Frame: 1 to 2 weeks
New Positions: Yes, see below
Why We Like It:
Uh-oh! Dow Jones Industrial component BA could be in trouble. Yesterday the stock produced a strong bounce of technical support at its rising 50-dma. Yet there was no follow through today. Instead BA reversed with a -1.9% decline and settled right on support near $104. and its 50-dma. A breakdown here could signal a much deeper correction lower.
We are suggesting a trigger to buy puts at $103.75. If triggered our target is $100.25. More aggressive traders may want to aim lower.
Trigger @ 103.75
- Suggested Positions -
buy the Sep $100 PUT (BA1321u100) current ask $1.47
Entry on August -- at $---.--
Average Daily Volume = 4.6 million
Listed on August 14, 2013