BA – Your Bullseye Pick of the Week - Bullseye Pick of the Week
Stock up 3%
My Trade Details:
- BA June 30 2023 $220 call near $4.50
- Stop: Close below $210
- Target 1: $225
- Target 2: $234
For my top idea this week, I am going with the leading supplier of jets to airlines across the world, Boeing (BA).
BA has been in an uptrend recently as well, but I still think it is in the early stages (barring a market pullback, of course).
If you go back to October of last year, BA made a massive run into the new year, hitting $220. Since then, it has basically gone nowhere. The stock has traded in a boring channel for several months, but with the strength in the travel industry, we are seeing a rally lately, and I think it could carry BA much higher.
My plan for BA this week is to buy options in 2 pieces: I want to buy half sometime today, and I want to save half of my position size to buy more if BA hits $214.
If I am wrong on this trade, my stop loss will be a closing price under $210 for BA.
On the upside, if I am right, I plan to sell near $225 and possibly even $234 as my profit targets.