Yes, yes we know about the delays in the Dreamliner program but trading down on smoke in the cabin is silly. $76.13 last, down 2.01%.Ten days later the headline at MarketBeat was "The Donald Takes a Flier on Boeing, A ‘Great Company’" at $75.26.
From What's Trading:
Cabin Smoke Sparks Put Buying in Boeing (BA)
Boeing (BA) drops $1.63 to $76.06 and is weighing on the Dow on reports of a cabin fire on a parked Dreamliner plane – Link to Story. Weekly 77.5 and 75 puts are the most active in options today and seeing opening activity. The fire was reportedly in a compartment with batteries and other electrical equipment — Briefing. 4190 calls and 8200 puts traded on BA and implied volatility in the options, which Friday fell below 17 and made a stab at 52-week lows (near 16), is up 12.5 percent to 19.Kids these days.
If you want to learn yourself some serious disasternomics read:
The complexity of price discovery in an efficient market: the stock market reaction to the Challenger crash...
Sometimes markets are irrational.
The stock closed yesterday at $140.62.
So, being scrupulously accurate not quite a double. Yet.