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What A Week For Market Swings. This Time Boeing

My last two blogs have focused on options expiring on Mondays and Wednesdays. This blog on a Thursday deals with options that expire tomorrow on Friday. AS A GENERAL RULE PURCHASING CALLS ON A THURSDAY MORNING THAT EXPIRE THE VERY NEXT DAY IS NOT A SMART MOVE TO MAKE. We have witnessed huge daily price swings this week where profits from option trading can be made in a matter of hours. Now let's look at Boeing's morning action.
Sometimes when you see charts like this and if you're coming off a streak of three or four profitable trades it's best to jump in hoping for a reversal to the upside and ask questions later. Especially when the D.J.I.A is strongly up in price as it was. I quickly looked around and couldn't find any news to account for this price drop. Trumph was in China and we later learned that there was talk of China ordering 200 more of Boeing's new airplanes. Talk like this is only talk. Now this at 9:51 a.m..
The interest in this particular series of Call options on the day wasn't that great. What's next? Is this the start of a rebound? Our next readout is nineteen minutes later.
So what's next?
The Calls are now $5.00 up from $3.90. Well they actually went down to $320.00. Now this.
...
You can see Boeing's big opening drop and small rebound. The rebound was playable. These Call options however closed the day at their low of $140.00. One day away from expiring option trading is an hour-to-hour experience. Next week's out 235.00 series of Calls which are slightly "out-of-the-money" might now be the one's to play. Here is how they closed the day.
To be continued.

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