Boeing will be flying soon

It's been a very tough year for Boeing with the worldwide grounding of the 737-Max and the massive drop in travel from the Coronavirus prompting airlines to delay purchasing new planes. The stock has tanked from the mid $300's to $153, and it won't take too much to get this stock back above $200.

It's been trending sideways in a tight channel between $145-185, and we can easily see BA breaking $200 within the next few months as news of a vacccine should provide confidence in the industry being revived.  If they can put the 737-Max issues behind them, we're certain their toughest days are behind them for now.

To position for a Boeing comeback we bought the January 2023 $240 Calls for $41.00 even, and we intend to hold this for at least a few months until we see a meaningful rally.  This is a high-risk trade as the Call options aren't cheap, and any additional operational set backs within Boeing's operations can sink the stock further. Should the stock retreat immediately, we don't want to own any near-month expiration options as they would erode in value.