OptionsRising

BA - 30min and weekly charts - long or short trade forming

OptionsRising Updated   
NYSE:BA   Boeing Company (The)
On this 30min chart (blue circle) you can see Boeing has been tracking the down trend line (DTL). The 10sma is below the 20sma, and on the the weekly chart the moving averages are rolling downward. You will see a H&S on the weekly chart. RSI and Stochastic indicate the stock can go lower. If BA closes back below the 30min yellow DTL, watch for it to go to the lower support lines. If sentiment changes on Boeing this stock can return to $300. If candles hold over the 30min DTL, then there could be a quick move up to $350.
Trade active:
Jan.17 - BA stock closed back below 30min DTL (see chart), which means it tests recent low of 320.61, and then down to 300. See weekly chart. I did not want to buy options before a 3-day weekend, so will look to enter a long put position on Tuesday.
Trade active:
Jan. 21 - BA opened lower and quickly shot back up to 10day SMA. I opened 2/21 expiry, 195 strike puts for $1.95. See the head and shoulders on the weekly chart. The low of the "neck" is 292.47 and below that the 200day SMA is ~277.
Trade active:
News just tanked stock. Taking benefit of unexpected drop and IV increase. Closed 1 put at $5.90 for 201% gain.
Trade closed: target reached:
Sorry for the late update here. Knowing that BA options can lose theta fast and IV really fluctuates strike prices, I decided to close my entire position on the same day. The stock price was around $302-303, and the options sold for $6.70 (244% return).
I am
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