Boeing Puts Trade Follow-up
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/383298599/Posted on Thursday, September 4th, 2008 | In Stocks to Watch
Yesterday, we recommended that readers of the Navivest blog buy the Boeing (BA) September 65 puts because a Boeing (BA) employees union was going to be voting on whether to accept a contract that Boeing (BA) had offered.
The union voted to reject the deal and the stock is dropping today, currently off $1.65 to $64.42. The September 65 puts which we entered into at $1.50 are now up about 26%.
We will be getting crude inventories report today at 11 AM. If those numbers are bullish for oil prices and stocks continue to drop on the day, we suggest those that missed on the Boeing September 65 puts options trade yesterday get in, as we could see further decline in Boeing tomorrow. However, those in the trade, need to be out by close of markets on Friday, as Boeing (BA) might come back with an offer that the union accepts.
Tags: Boeing
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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