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Wednesday, January 26, 2022 11:00:21 AM
Options Bears Blast Boeing (BA) Stock After Earnings, Revenue Miss
By: Schaeffer's Investment Research | January 26, 2022
• However, the company also marked its first positive cash flow quarter since 2019
• The equity is coming off its 10th-straight daily loss
The shares of Boeing Co (NYSE:BA) are down 2.4% to trade at $199.15 this morning, after the blue-chip aerospace manufacturer posted worse-than-expected fourth-quarter earnings and revenue. While delivery delays of its 787 jet contributed to core operating losses, the company also marked its first quarter of positive cash flow since early 2019.
Options bears are already chiming in today. So far, 29,000 puts have crossed the tape, which is triple what is typically seen at this point. Most popular is the weekly 1/28 200-strike put, where new positions are being opened, followed by the 190-strike put in the same series.
A broader look shows options traders have been more pessimistic than usual. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BA's 50-day put/call volume ratio of 0.40 stands higher than 85% of readings from the past year. This means that while calls are still outnumbering puts on an overall basis, puts have been getting picked up at faster-than-usual clip.
Boeing stock has been particularly volatile over the past 12 months, and is now looking to string together its seventh-straight loss. Late last week, shares lost support from the 20-day moving average, after a rally off the $185 area was turned down at the $230 mark. Over the last nine months, BA has shed 13.3%.
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By: Schaeffer's Investment Research | January 26, 2022
• However, the company also marked its first positive cash flow quarter since 2019
• The equity is coming off its 10th-straight daily loss
The shares of Boeing Co (NYSE:BA) are down 2.4% to trade at $199.15 this morning, after the blue-chip aerospace manufacturer posted worse-than-expected fourth-quarter earnings and revenue. While delivery delays of its 787 jet contributed to core operating losses, the company also marked its first quarter of positive cash flow since early 2019.
Options bears are already chiming in today. So far, 29,000 puts have crossed the tape, which is triple what is typically seen at this point. Most popular is the weekly 1/28 200-strike put, where new positions are being opened, followed by the 190-strike put in the same series.
A broader look shows options traders have been more pessimistic than usual. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), BA's 50-day put/call volume ratio of 0.40 stands higher than 85% of readings from the past year. This means that while calls are still outnumbering puts on an overall basis, puts have been getting picked up at faster-than-usual clip.
Boeing stock has been particularly volatile over the past 12 months, and is now looking to string together its seventh-straight loss. Late last week, shares lost support from the 20-day moving average, after a rally off the $185 area was turned down at the $230 mark. Over the last nine months, BA has shed 13.3%.
Read Full Story »»»
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