As mentioned last week, we added a short-term 45 call to our long-term put position on Boeing. Boeing had been breaking through the 44 level and that big sucking sound of the rising market prompted us to take a small position on the long side. But we should know by the end of the month which way this stock will go. We can expect Boeing to try to take out the previous monthly highs of 44.85. A solid breakout from this level can result in great profits for the Sep 45 call that was trading as low as $1 this morning. Should we end the month though with the test of the three month high in place, closing at or below the $44.85 level, we will be looking for tests of the lows a bit ablove the $30 level.