Monthly options expire the 3rd Friday of every calendar month. Traders take options positions using both calls and puts throughout the month, but on that 3rd Friday, it's time to settle up. That's this Friday, May 20th. Because the stock market has been in a lethal downtrend for much of the past six weeks and many retail traders simply
"follow the herd", there are a TON of in-the-money put options that suggest a possible short-term rally - which we've been witnessing the past few days. Boeing (BA) is a stock that has been absolutely crushed over the past four weeks, falling from nearly 190 to last Thursday's low of 120, before rallying the past few days. Still, BA has more than $205 million of in-the-money puts and only $2 million of in-the-money calls. This imbalance would suggest a "possible" reversal to
the upside short-term for BA. Here's the current chart:
