Steve Sosnick's Boeing Trade

Interactive Brokers' chief options strategist, Steve Sosnick, spoke on Bloomberg Markets about an options trading strategy in Boeing Co BA.

He thinks the stock is starting to form a topping pattern and he wants to sell the September 320 put and buy the October 320 put for $2.25. To make money with the trade he needs the stock to stay above $320 at the September 21 expiration and then it has to drop below $317.85 at the October expiration.