Closing Our Boeing Trade

This appears to be the morning to close out the last half of our Boeing (BA) short call position. The August 18 $245-247.50 spread has trickled down to the point where we can bid a quarter, maybe a penny or two less, and get a hit to close this down for a solid profit.

This is the third day of a pullback in Boeing, and my concern is that a few folks who missed the big move might step up as shares approach the closing levels the first day after earnings. We don't have much more to gain on the second half of the trade, so we'll close it down and be content with more than a 50% pickup, as this call was originally sold for $0.54. I'd be happy with anything $0.27 or less here....83 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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