Loading...
Loading...
Speaking on
CNBC's Options Action, Carter Worth said that he expects the aerospace and defense stocks to break out on the upside. He thinks that
Boeing CoBA is going to cause the move higher.
Worth showed a well-defined triple bottom in Boeing and explained that he expects the stock to trade to its 52-week high, at $145, from its current price of $132.78. This implies a 10 percent move higher and Worth believes that it could trade even higher.
Mike Khouw suggested an options strategy to make a bullish bet in the name. He would buy the May 140.25 calls for $5.25. The breakeven for this trade is at $145.5. He thinks that it is necessary to buy a later expiration because if something happens in the stock, it will happen in January. Khouw explained that if Boeing can sell an upside call and make this option cheaper and if it declines to $110, he could sell a put and also get back some of the premium.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in