This is a classic "Wave (5) Sell Signal" projecting BA down another 10-20% from current levels. I've been trading this particular set-up, which I learned from Tom Joseph, developer of Advanced GET, since summer, 1995. I'll write about it some day, this one pattern recognition trade literally changed my life. BA - Wave (5) Sell BA Jul 19th Puts Buy BA Jul 19th $160P < $4.00 Target BA = $135-105 Target Jul 19th $160P = $25-60 (6X or better) Stop: 50% Trailing from Best % Return Less Aggressive Alternative: Sep Expiration BA Sep 20th Puts Going out to September gives this trade more than twice the time to unfold, but at the cost of some leverage when it does. One more bad Boeing headline in the next few weeks and what appears to be Wave (5) could begin to look like a Wave (3), i.e., the steepest dive yet.
