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AwesomeAvani
Jan 21, 2024 3:58 PM

BA Trade Setup into Earnings by Fib Retrace / Volume Profile Long

NYSE:BA120
Boeing Company (The)NYSE

Description

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BA is shown on a marked up 120 minute chart with a Volume Profile and Fibonnaci retracement

levels as well as the trend angle reversal at the consolidation upon finding support at the

bottom of the high-volume area of the profile. The fib levels suggest targets. Risk in the trade

is after earnings reports of "beats" will drive the action higher or "misses" will cause a down

trajectory. Volatility will increase as the earnings date quickly approaches. Some traders may

want to close a winning trade just before earnings or take a predominant partial close leaving

the the rest to move through the storm looking for blue sky.

I have a risk appetite here. I will take call options for February 5th striking OTM at $240.

I will cut them no later than 24 hours before earnings or when they hit 200% if that happens

beforehand.

Trade active

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Another good day but might get bogged down in some bad news.

Comment

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FibonacciOscillatorsVolumeBAboeing737maxoptionstradingvolumeprofileanalysisFibonacci Retracementfibretracementearningsplay
Comments
Luck264
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Great analysis
AwesomeAvani
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@Luck264, My chart suggests a new leg up !
daisydo179
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love yr analysis
AwesomeAvani
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@daisydo179, Thanks daisy My chart suggests a new leg up !
SabahEquityResearch
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Excellent analysis
AwesomeAvani
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@SabahEquityResearch, Thanks for the compliment. I have yet to get my head wrapped around EW. One of these days, I think that I will seize the moment and take a dive.
AwesomeAvani
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@SabahEquityResearch, Thanks coming from a senior trader I appreciate that you say so. I am a senior but not a senior trader- I am in my third year.
the BA update from my chart is My chart suggests a new leg up !
I do call options OTM so a call for $210 for March 16 is on my radar to compliment a couple of others for $ 220 in July. Will get paid for the price movement and close before expiration so there is a buyer. Recent contracts to buy with India and Thailand in large numbers are good offsets to the FAA messy news.
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