This is big news for Boeing, which lost hundreds of orders during a prolonged grounding of the troubled jet and reduced demand for travel during the coronavirus pandemic.
The order for the MAX 7 jets, the smallest MAX variant, means Boeing will retain its lock on one of its most important airline customers. Southwest’s fleet is made up entirely of 737 jets, but the carrier had been re-evaluating that strategy.
Technical Analysis: On Monday: $BA closed @ $250.52, +2.31% from Friday’s close.
In my personal opinion, I do not think this news is big enough to make the stock continue going up.
I think this was a 1-time push and we should anticipate more downside to come.
I do believe $BA will trade lower into $242.69 and maybe even 233.78
I like the $230puts for 4/9 – currently trading @ 1.90
PENN Penn National Gaming Inc.
News: Deutsche Bank Gaming report warns about NY government being more pessimistic about passing new gaming laws.
Now I personally do not agree with the report, but I do see the stock continue to sell-off.
After recently joining the S&P500 ETF, SPY, investors are not interested in owning the individual company when they can just bet on the overall market doing well.
On Monday, PENN closed at $98.21, down 7.85% from Friday’s closing price.
I do see the stock heading lower into $86.17
I do like the $90 puts for 4/9, currently trading at 2.41
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