Anthony Speciale Stock Market Analyst

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How Boeing’s Poor Earnings Set Up a Great Bearish Trade Idea

When The Boeing Company (BA) reported on April 27, the company missed on earnings and revenue expectations.

When The Boeing Company (BA) reported on April 27, the company missed on earnings by $2.50 per share. It also missed revenue expectations by $2.03 billion.

It was a hard hit for Boeing, to say the least.

However, it could be the trigger for a nice shorting setup that could be well worth our while!

The Technical Setup

As long as price action settles below the channel structure, which it broke in the image below by 1%+, the price action should follow through to test the full channel extension.

Daily Chart of The Boeing Company (BA) — Source: TradingView

As you can see on the right side of the chart, I detailed where I’d ideally like to short this stock if in fact it meets our entry criteria.

I placed a dotted line where I’d place my stop loss and a solid line below where I’d place my target.

I personally wouldn’t short the stock, even though that’s the setup at hand here.

Another Bearish Option

Instead, I’d take this information to the options market where I could get a leveraged position for the suspected move that the chart is suggesting.

The Boeing Company (BA) Option Chain — Source: TD ThinkOrSwim Platform

I’d consider the BA October 21, 2022, expiration $110 strike put options (BA221021P00110000).

These should give the trade enough time to transpire without running into time decay, and the target should be “in the money” by the time we’re ready to book profits as long as this trade goes our way…

But again, I’d await a weekly confirmation of the price action prior to acting on this idea.

We’d like to see that 1%+ confirmation before we bet on any future follow-through.

Your Next Side Job?

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This strategy helped Josh turn an initial deposit investment of $500 into $39,282 in less than two years.

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Rules to Live By

“Everything can be taken from a man but one thing: the last of the human freedoms – to choose one’s attitude in any given set of circumstances, to choose one’s own way.” Viktor E. Frankl

Until next time, I wish you a beautiful and blessed day!

Yours In Trading Success,

Anthony Speciale Jr.

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