Mike Khouw Weighs In On Boeing

On CNBC's "Options Action," Mike Khouw said there has been some good news for Boeing Co BA, but he thinks it is still not out of the woods.

Going into the earnings next week, he would buy call diagonals. He would pick the $210 strike for the longer-dated option, and he would sell the $225 or $230 strike for the shorter-dated call.