Boeing shares have tanked more than 13% in the last few weeks, and the fallout is starting to spread. American Airlines trimmed guidance due to the 737 Max grounding, and traders are starting to make big bets on the future of the industrials.
div > div.group > p:first-child"> Shares of the aircraft manufacturer have sunk more than 13% in the last few weeks, as the company faces continued fallout over its 737-Max planes. The industrials sector has managed to shake off the Boeing fallout, rising more than 1% since the Ethiopian Airlines crash involving a 737 Max in mid-March, but that is about to change, according to one trader.
As Nathan points out, there are plenty of reasons that a trader would make this kind of bet, as Boeing's future – and therefore the future of the XLI – remains uncertain ahead of the company's earnings report later in the month. When it comes to which side of the straddle Nathan thinks the XLI could end up on at this trade's expiration, he points to the charts.
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