Boeing Surges 2.6% on Alaska Airlines Mega-Order: Is This the Catalyst for a $240+ Run?

Summary
• Boeing (BA) surges 2.59% to $233.28, hitting a 2026 high of $234.68
• Alaska Airlines places 110-aircraft order, including 105 737-10s and 5 787-10s
• Options frenzy: 20260116C235 and 20260116C240 see 167% and 129% price jumps

Boeing’s stock is surging on a historic order from Alaska Airlines, the largest in the company’s history. The 110-aircraft deal—105 737-10s and 5 787-10s—has ignited a 2.59% intraday rally, pushing BA to $233.28. With the stock trading near its 52-week high of $242.69, the move reflects renewed confidence in Boeing’s production turnaround and order backlog. The options market is also heating up, with call options on the 16 January expiry seeing explosive volume and leverage ratios exceeding 90%.

Alaska Airlines Mega-Order Ignites Boeing’s Bull Run
Boeing’s 2.59% intraday surge is directly tied to Alaska Airlines’ $11 billion order for 110 aircraft, including 105 737-10s and 5 787-10s. This is the largest single order in Boeing’s history and a major validation of its 737 MAX 10 program, which has faced certification delays. The deal adds $11 billion to Boeing’s backlog and signals renewed airline confidence in its narrowbody and widebody offerings. Analysts at JPMorgan and Bernstein have upgraded price targets to $245 and $277, respectively, citing the order as a catalyst for production normalization and margin expansion.

Aerospace Sector Rally as Boeing Leads Charge on Alaska Airlines Order
The aerospace sector is surging alongside Boeing’s rally, with Lockheed Martin (LMT) up 5.1% and RTX Corporation (RTX) up 0.6%. Boeing’s 2.59% gain outpaces the sector’s 1.09% average, reflecting its unique position as the largest commercial aircraft manufacturer. The Alaska Airlines order underscores Boeing’s competitive edge in the narrowbody market, where it faces pressure from Airbus’ A321neo. However, the 737 MAX 10’s larger capacity and lower operating costs could help Boeing regain market share in the long-haul single-aisle segment.

Direxion Daily BA Bull 2X Shares (BOEU) and 20260116C235 Lead the Charge
• 200-day average: $206.64 (below current price)
• RSI: 82.72 (overbought)
• MACD: 7.23 (bullish divergence)
• Bollinger Bands: $234.72 (upper) vs. $233.28 (current price)

Boeing’s technicals suggest a continuation of the bullish trend, with the 200-day average acting as a strong support. The RSI at 82.72 indicates overbought conditions, but the MACD’s positive divergence and Bollinger Bands’ tight squeeze suggest momentum is intact. For leveraged exposure, the Direxion Daily BA Bull 2X Shares (BOEU) offers 2x leverage, currently up 5.14% on the day. This ETF is ideal for aggressive bulls betting on a $240+ move.

Top Option 1: BA20260116C235
• Code: BA20260116C235
• Type: Call
• Strike Price: $235
• Expiration: 2026-01-16
• IV: 21.52% (moderate)
• Leverage Ratio: 90.68% (high)
• Delta: 0.4618 (moderate)
• Theta: -0.7374 (high time decay)
• Gamma: 0.0533 (high sensitivity)
• Turnover: 1,303,435

IV reflects moderate volatility expectations; Leverage Ratio indicates high potential returns; Delta suggests moderate directional exposure; Theta shows significant time decay; Gamma highlights sensitivity to price swings. This option is ideal for a 5% upside scenario: if BA hits $244.94 (5% above $233.28), the payoff would be $9.94 per contract, yielding a 73% return on the $13.50 premium.

Top Option 2: BA20260116C240
• Code: BA20260116C240
• Type: Call
• Strike Price: $240
• Expiration: 2026-01-16
• IV: 22.46% (moderate)
• Leverage Ratio: 222.81% (extreme)
• Delta: 0.2346 (low)
• Theta: -0.4312 (moderate time decay)
• Gamma: 0.0395 (moderate sensitivity)
• Turnover: 676,202

IV suggests moderate volatility; Leverage Ratio offers extreme upside potential; Delta indicates low directional exposure; Theta shows moderate time decay; Gamma reflects moderate sensitivity. In a 5% upside scenario, the payoff would be $4.94 per contract, yielding a 365% return on the $1.35 premium. This contract is ideal for high-risk, high-reward traders.

Action Alert: Aggressive bulls should consider BA20260116C235 into a break above $235. If the $235 level holds, the 20260116C240 offers explosive potential with a 222.81% leverage ratio.

Backtest The Boeing Stock Performance
The backtest of British Airways (BA) after a 3% intraday surge from 2022 to the present shows mixed results. While the 3-day win rate is high at 51.38%, the returns over the 3-day, 10-day, and 30-day periods are relatively modest, with a maximum return of only 1.82% over 30 days. This suggests that while BA often exhibits short-term price appreciation, it may not lead to significant long-term gains.

Boeing’s $240+ Run Begins: Watch the 20260116C235 Breakout
Boeing’s rally is driven by a historic order from Alaska Airlines and a technical setup favoring continuation. The 200-day average at $206.64 and Bollinger Bands’ upper bound at $234.72 suggest the stock is poised to test its 52-week high of $242.69. The 20260116C235 call option is the key catalyst to watch, with a 90.68% leverage ratio and high gamma. Meanwhile, the aerospace sector is rallying, led by Lockheed Martin (LMT) up 5.1%. Investors should monitor the $235 level for a breakout confirmation and consider the Direxion Daily BA Bull 2X Shares (BOEU) for leveraged exposure. If the 737 MAX 10 certification progresses smoothly, Boeing could see a $240+ move by mid-2026.