Put Traders Blast Boeing Stock After 737 MAX Incident

More than 200 flights were canceled as a result

Digital Content Manager
Jan 8, 2024 at 10:24 AM
facebook X logo linkedin


Boeing Co (NYSE:BA) stock was last seen down 8.9% at $226.73 and dragging the Dow Jones Industrial Average (DJI) lower, after the U.S Federal Aviation Administration (FAA) temporarily grounded some 737 MAX 9 jets that are fitted with a panel that flew off during an Alaska Air Group (ALK) flight. Airline stocks are struggling as a result, after cancelling over 200 flights.

The equity is trading at its lowest level in more than one month, and eyeing its worst single-day percentage drop since May 202. Shares could close below the 40-day moving average for the first time since November if losses hold, and are chipping away at a slim 6.7% year-over-year lead.

Already, 68,000 puts and 46,000 calls have crossed the tape today, or eight times the volume that is typically seen at this point. Most active by far is the weekly 1/12 225-strike put, where new positions are being opened. Plus, puts dominate the top four open interest strikes.

These traders are getting a bargain, per Boeing stock's Schaeffer's Volatility Index (SVI) of 24% that ranks higher than just 11% of readings from the past 12 months, indicating options traders are pricing in low volatility expectations.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI