DailyPlay – Closing Trade (BA) – February 26, 2024

Closing Trade

• BA – 47.53% Loss: Sell to Close 2 Contracts (or 100% of your Contracts) April 19th $210/$235 Call Vertical Spreads @ $4.67 Credit per contract. DailyPlay Portfolio: By selling both Contracts, we will receive $934. We initially opened these 2 Contracts on Feb 2 @ $8.90 Debit. Our average loss on these shares is $423 per Contract. 

Investment Rationale

Boeing was absent this weekend’s airshow in Singapore and China’s COMAC stole the limelight and aspires to break the duopoly. This has put further pressure on BA’s stock price over the weekend and potentially pushes it below our key $200 support. We are going to cut our losses and keep the small and focus on adding to our positions that are working out such as NOC and C.