Boeing Stock Gains on String of New Deals

The Dow name has already announced a myriad of fresh deals

Jul 16, 2018 at 11:29 AM
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Chicago-based Boeing Co (NYSE:BA) has been at the center of a busy opening day at the Farnborough Airshow. The company announced an impressive list of multi-billion-dollar deals, including a three-way agreement with United Airlines (UAL) and close business partner Embraer SA., as well as its huge deal with DHL. As a result, BA stock is taking off, last seen up 1.2% at $354.66, putting it on pace for a third straight win. In fact, the equity has only had two negative sessions in July, even as it deals with ongoing tariff drama between the U.S. and China, and has now fully recovered from its mid-June bear gap.

ba stock price

Boeing will also be in the earnings spotlight soon, and may prove to be a strong target for premium buyers. The aerospace giant was the only Dow stock to land on Schaeffer's Senior Quantitative Analyst Rocky White's list of high Schaeffer's Volatility Scorecards (SVS) ahead of earnings, showing a history of topping options traders' volatility expectations. BA's SVS comes in at 95 out of a possible 100.

Meanwhile, today's slew of news has options volume accelerated. Calls are especially hot, nearly doubling their put counterparts and accounting for the six most popular options. Traders may be betting on more near-term upside given the demand at the July 350, 355, 360, and 365 calls. July options expiration doesn't encompass Boeing's July 25 earnings release, however.


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