High-rolling investors have positioned themselves bearish on Boeing BA, and it’s important for retail traders to take note.
This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in BA often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 8 options trades for Boeing. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $27,960, and 7 calls, totaling $400,582.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $250.0 for Boeing during the past quarter.
Volume & Open Interest Trends
In today’s trading context, the average open interest for options of Boeing stands at 1895.5, with a total volume reaching 539.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Boeing, situated within the strike price corridor from $200.0 to $250.0, throughout the last 30 days.
Boeing Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BA | CALL | TRADE | BULLISH | 06/21/24 | $210.00 | $75.4K | 1.9K | 1 |
| BA | CALL | SWEEP | BULLISH | 06/21/24 | $210.00 | $72.0K | 1.9K | 110 |
| BA | CALL | SWEEP | NEUTRAL | 05/17/24 | $210.00 | $70.9K | 1.1K | 204 |
| BA | CALL | SWEEP | NEUTRAL | 05/17/24 | $210.00 | $70.8K | 1.1K | 132 |
| BA | CALL | TRADE | NEUTRAL | 06/21/24 | $200.00 | $41.9K | 3.5K | 4 |
About Boeing
Boeing is a major aerospace and defense firm. It operates in three segments: commercial airplanes, defense, space & security, and global services. Boeing’s commercial airplanes segment competes with Airbus in the production of aircraft that can carry more than 130 passengers. Boeing’s defense, space, and security segment competes with Lockheed, Northrop, and several other firms to create military aircraft and weaponry. Global services provides aftermarket support to airlines.
Having examined the options trading patterns of Boeing, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Boeing’s Current Market Status
- With a trading volume of 1,242,044, the price of BA is down by -1.24%, reaching $206.74.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 71 days from now.
Expert Opinions on Boeing
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $240.8.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Boeing, which currently sits at a price target of $260.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Boeing, maintaining a target price of $215.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Boeing, targeting a price of $279.
- In a cautious move, an analyst from Wells Fargo downgraded its rating to Equal-Weight, setting a price target of $225.
- An analyst from B of A Securities has revised its rating downward to Neutral, adjusting the price target to $225.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Boeing with Benzinga Pro for real-time alerts.
Image and article originally from www.benzinga.com. Read the original article here.