You don’t need to be a pilot or an airplane buff to get goosebumps when the Blue Angels fly over.
They are truly amazing!
And the sound … just … goes right through you.
I can’t imagine what it would be like in the cockpit.
My husband, Scott, is a private pilot. He flies a Cessna 182, a small, single-engine four-seater.
It isn’t anything fancy, but it does get us to my parents’ home in Arkansas in under three hours … as opposed to a nine-hour drive. I will take it!
We have flown to many air shows over the years, namely the famous EAA AirVenture Oshkosh
AirVenture is such a big event that you can’t find a place to stay … so we pitched a tent under the wing!
We were never huge campers or anything, so when Scott’s hand was scratching the nylon tent I thought there was a mouse inside.
Scared the hell out of me in the middle of the night.
It can actually be dangerous flying into an event like that just because there are so many planes in the air. Amatuer pilots, as you might imagine, can be dangerous.
It is fun, though. I sure hope Mayor Lori Lightfoot doesn’t plan on canceling our Air and Water Show here in Chicago in August. Sadly it was canceled last summer due to Covid, and the talk is there’s no money in the budget for it in 2021.
Blue Angels flying over Lake Michigan in Chicago.
Every year we could see the U.S. Navy Blue Angels or the U.S. Air Force Thunderbirds, they alternate years, practicing from our rooftop deck.
It was phenomenal.
We could also catch them out of our office building windows on LaSalle and Adams. I just love that sound!
Not sure why exactly, but our favorites were the Blue Angels.
Once, many years ago, after catching the air show in Kankakee, Ill, we were flying away and heard the Blue Angels talking on the radio.
Scott said, “Hey! Nice show, Blue Angels!”
“There’s someone on this channel,” a voice said in reply. “We need to switch.”
Speaking of switching …
Keep reading for my trade idea in aerospace giant Lockheed Martin.
Hit the Jets
How cool is this?
It’s a Lockheed Martin F-22 Raptor. Cool name, too.
All this airplane talk is due to the Lockheed Martin (Ticker: LMT) stock chart.
LMT is up 15% ($52) since March 12 when it traded $338. Friday the high was over $390.
I am seeing a doji candlestick formation on Friday which could be signaling an end to this straight uptrend.
A doji candle is formed at the end of a trend where the candle has a very small or nonexistent body and longer upper and lower shadows.
This is formed when the buyers and sellers are being represented equally in the market. No one side has won out.
I will wait for a confirmation by an opening on today lower than $386.23.
I am looking for a quick move lower, so if LMT opens lower on Monday I will buy puts with an Apr16 expiration.
I would like to buy the Apr16 385 puts with an implied volatility of 14.83 and sell the 375 puts with an implied vol of 17.45.
I would pay up to $2.00 for this spread. With this spread expiring on Friday it will begin to decay very quickly, so I will need a move below $385 on Monday or Tuesday.
If this spread trades below $1.50 I will take my loss.
I will begin profit taking when the spread trades above $3.
Time to fly!
Thanks for Reading … See You Next Tuesday!