Hey there traders,
There is absolutely a play on BA (Boeing) catching a stronger bid (people wanting to buy), than it already has right now.
One has to wonder if this is a sign that the stock is heading back to 190 or even above 200.
Rapid Covid testing and Vaccines are going to be a Giant catalyst for the airline industry.
It will allow people to feel like they are traveling safely once again.
This could mean huge upside for BA, and could be why the stock is seeing so much bullish call action today, just like yesterday, as you can see below.
Yesterday, we saw calls VASTLY outpace puts in BA on a day where it did not do very much.
Today, calls continue to outpace puts at a rate of over 9 to 1, as seen below.
We can see that close to 35 THOUSAND calls traded to only 3,700 puts.
The most active call options so far is speculative call buying on the August 28th 180 call strike.
So far traders have traded, mostly buying, over 22,000 of the Aug 28 calls.
Stay tuned, especially if some of this call action rolls into the weekly expiring on September 4th, as it will confirm the view of more real buyers stepping in.
Your Only Option,
P.S. – I love hearing from you guys! Don’t forget you can always hit me out on twitter too: @optionpit