Call Traders Blast Boeing Stock After 737 Update

Boeing stock has added more than 10% already in 2022

Deputy Editor
Jan 13, 2022 at 10:12 AM
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Blue-chip aerospace manufacturer Boeing Co (NYSE:BA) is getting a boost today, last seen up 2.3% at $222.50, after Bloomberg gave an update on China's aviation authority's review of the company's 737 Max jet. According to the report, Boeing could see its controversial jet resume service in China later this month.

Bullish traders are responding to the news with enthusiasm. Already, over 40,000 calls have crossed this tape, which is triple the intraday average and more than four times the amount of puts traded. The two most popular contracts, the weekly 1/14 225- and 222.50-strike calls, have new positions being opened at each. This implies these traders see more upside for the BA by the time these contracts expire at the conclusion of tomorrow's session.

Boeing stock has suffered, along witch much of the airline sector, in the wake of the Covid-19 omicron variant. In fact, on Dec. 20, BA fell to its lowest level since November 2020, and is now staring up at the 200-day moving average. However, the equity is looking to turn things around in the first few sessions of 2022, tacking on more than 10% already in the new year.

 

 

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