Industrials

Boeing Co (BA) options and signal

Figures as of 28 Sep 2026

BA is Boeing Co, an Industrials name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
Trade Card	Bull put spread, 18 Dec	25 Sep
IV rank	85 of 100	28 Sep
At the money IV	38.5%	28 Sep
Priced move to 30 Oct	11.0% down, 11.8% up	28 Sep
Call wall and put wall	200 and 190	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	184.39	28 Sep
Next report	28 Oct 2026	28 Sep

Trade Cards

On 25 Sep 2026 the Trade Card for BA was a bull put spread expiring 18 Dec 2026, paper trading.

Figure	Value
Signal	Neutral
Strategy	Bull put spread, credit
Legs	Sell the 170 put, Buy the 150 put
Expiry	18 Dec 2026, 84 days to expiry
Limit	A credit of at least $1.95
Probability of profit	69%, the option market's odds at expiry, from delta
Max loss	$1,805 per contract
Max profit	$195 per contract
Breakeven	168.05
IV rank at that expiry	76 of 100

Probability of profit is the option market's own odds from delta, not the model's.

Priced on the option chain at the close on 25 Sep 2026.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Options Snapshot

BA's IV rank is 85 of 100 on 28 Sep 2026.

Figure	Value
IV rank	85 of 100
At the money IV	38.5%, near month, 32 days
Put/call ratio, open interest	1.11
Call open interest, strikes captured near the price	228,000 contracts
Put open interest, strikes captured near the price	253,000 contracts
Cost to trade at the money	Tight, 11.0% of the option's mid price

IV rank is where the at the money IV sits among BA's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, BA options priced a move of 11.0 percent down and 11.8 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	3.9%	3.9%	177.15 to 191.51
9 Oct 2026	11	5.7%	6.1%	173.79 to 195.69
23 Oct 2026	25	8.4%	9.2%	168.99 to 201.29
30 Oct 2026	32	11.0%	11.8%	164.19 to 206.09
20 Nov 2026	53	13.2%	14.4%	160.09 to 210.99
18 Dec 2026	81	15.8%	18.3%	155.29 to 218.19
19 Feb 2027	144	20.1%	24.5%	147.39 to 229.49

The range is one standard deviation either side of the close of 184.39, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, BA's call wall is the 200 strike and its put wall is the 190 strike.

Figure	Value
Call wall, most open call gamma	200
Put wall, most open put gamma	190
Net dollar gamma, calls minus puts	minus $56.48 million
Total dollar gamma, both sides	$157.04 million
Close	184.39

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

Net gamma changes sign at 5 strikes, so no single flip strike is named.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, BA's at the money IV is 38.5 percent against 20 day realized volatility of 34.8 percent.

Figure	Value
At the money IV	38.5%
Realized volatility, 20 trading days	34.8%
Realized volatility, 60 trading days	35.4%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	864, from 8 Jan 2010
Weeks the price moved more than the one week priced move	32.9% of 252 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, BA's at the money IV runs from 36.7 percent at 4 days to 35.8 percent at 144 days.

Days to expiry	At the money IV
4	36.7%
11	36.9%
18	34.5%
25	35.0%
39	38.0%
53	36.7%
81	35.8%
144	35.8%

Near and far expiries price about the same volatility, a flat term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 32 day expiry, BA's IV ten percent below the price sits 10.3 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	48.8%	+10.3 points
At the money	38.5%	0.0 points
10% above the price	39.3%	+0.8 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, BA's surface spans 10 expiries out to 144 days, with IV from 31.8 to 46.0 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	77
Lowest IV among them	31.8%
Highest IV among them	46.0%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, BA has 10 captured expiries, from 2 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	36.7%	18,170	11,673
9 Oct 2026	11	36.9%	5,648	4,204
16 Oct 2026	18	34.5%	28,096	34,060
23 Oct 2026	25	35.0%	6,230	9,411
30 Oct 2026	32	38.5%	3,769	2,948
6 Nov 2026	39	38.0%	297	130
20 Nov 2026	53	36.7%	47,472	56,099
18 Dec 2026	81	35.8%	52,599	49,299
15 Jan 2027	109	35.6%	58,172	76,987
19 Feb 2027	144	35.8%	7,428	8,450

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, BA's largest open interest sits at the 200 strike, with 43,996 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
200	16,947	27,049	43,996
220	24,152	10,130	34,282
210	18,915	12,699	31,614
190	2,853	28,285	31,138
205	17,067	10,981	28,048
230	13,907	13,704	27,611

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, BA's at the money IV moved from 31.8 percent to 38.5 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	31.8%	38.5%	+6.7 points
Open interest, strikes captured near the price	541,297	481,142	-60,155
Put/call ratio, open interest	0.95	1.11	+0.16

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 211,547 BA option contracts traded, 2.3 times its own recent average.

Figure	Value
Calls traded	117,188
Puts traded	94,359
Against its recent average	2.3 times
Busier than	20 of its last 20 trading days
Open interest, whole chain	676,061 contracts
Volume to open interest	0.31
Unusual volume flag	Yes, 26 contracts traded well above open interest
Largest flagged contract	The 200 call expiring 2 Oct, 7,343 traded against 2,945 open

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of BA's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	233.24	$83.5 million	240	230
21 Sep 2026	201.15	minus $30.84 million	205	200
28 Sep 2026	184.39	minus $56.48 million	200	190

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of BA was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	195.46, the swing high of 18 Sep 2026
Level below the close	184.24, the swing low of 28 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Bull put spread (sell a put spread below the price)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 BA sat at the 89th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	22 of 100	Neutral
20 trading days	65 of 100	Neutral
45 trading days	89 of 100	Bullish

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026, 1 of 3 timeframes put BA on the bullish side, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 of 2
Long	45 day	Bullish	1 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 BA had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	89 of 100
24 Sep 2026	None	99 of 100
23 Sep 2026	None	79 of 100
22 Sep 2026	None	94 of 100
21 Sep 2026	None	77 of 100
18 Sep 2026	None	99 of 100
17 Sep 2026	None	88 of 100
16 Sep 2026	None	87 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Sector Split

On 25 Sep 2026, 51 of 147 Industrials names were bullish and 37 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Industrials	147	51	37	59

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

BA closed at 184.39 on 28 Sep 2026.

Figure	Value
Last close	184.39
Change over 5 trading days	-8.3%
Change over 21 trading days	-12.1%
Change over 63 trading days	-14.1%
Change over 252 trading days	-13.6%
52 week high	254.35
52 week low	176.77
20 day moving average	203.63
50 day moving average	213.78
200 day moving average	221.00
RSI, 14 days	27

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

BA reports next on 28 Oct 2026, and options priced an earnings move of 8.7 percent through 30 Oct 2026.

Figure	Value
Next report	28 Oct 2026, before the open
Date	Confirmed by the company
Priced earnings move	8.7%, a straddle of $16.02 at the 185 strike, expiring 30 Oct 2026
Move after the report of 28 Jul 2026	+4.8%
Move after the report of 22 Apr 2026	+5.5%
Move after the report of 27 Jan 2026	-1.6%
Move after the report of 29 Oct 2025	-4.4%

The priced earnings move is the straddle's cost over the share price. It restates option prices and says nothing certain about the report.

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Public Filings

The filings the desk holds carry 1 recent trade in BA shares.

Filed	Who	Trade	Size
1 Sep 2026	. Kevin Hern, member of Congress	Sold	$1,001 to $15,000

Every filing is reproduced as filed, and each one reaches the public days or weeks after the trade.

Filings as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 36.0 percent of BA's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	36.0%
Five day average	41.9%
52 week median	44.1%

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 36 Septembers on record, BA's average change was minus 1.6 percent, and it rose in 50.0 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-1.6%	+0.0%	50.0%	36
October	-0.2%	-2.0%	44.4%	36
November	+4.5%	+4.3%	66.7%	36

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Headlines

The desk's news feeds carried 8 headlines naming BA in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	8
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

Headlines as of 28 Sep 2026. Current on every plan.

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Questions

What is BA's IV rank?: BA's IV rank is 85 of 100 on 28 Sep 2026.
What move are BA options pricing?: On 28 Sep 2026, BA options priced a move of 11.0 percent down and 11.8 percent up by 30 Oct 2026.
Where are BA's call wall and put wall?: On 28 Sep 2026, BA's call wall is the 200 strike and its put wall is the 190 strike.
What was the latest Trade Card for BA on the Free plan?: On 25 Sep 2026 the Trade Card for BA was a bull put spread expiring 18 Dec 2026, paper trading.
When does BA report earnings next?: BA reports next on 28 Oct 2026, and options priced an earnings move of 8.7 percent through 30 Oct 2026.

More Industrials names

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