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Dykstra's Deep-in-the-Money Call: Boeing

The aerospace giant's November calls look ready to soar.

The stock market was pretty flat Monday, even as the sports world is buzzing with rich story lines.

The tourney officially came to a close last night as a new champion was crowned. The Kansas Jayhawks woke up this morning as NCAA College Basketball Champions after their thrilling overtime victory over Memphis. The National Hockey League (NHL) is about to kick off its second season, or the Stanley Cup playoffs, which begin Wednesday. The spotlight will be on two of its top two young guns -- the Pittsburgh Penguins' Sidney Crosby and Washington Capitals' Alexander Ovechkin.

On the diamond, my old teams, the New York Mets and Philadelphia Phillies, will square off today at Shea Stadium. The Mets will be looking for some redemption after their historic collapse late last season, while the Phils will want to show their division title last year was no fluke.

The Phils have had the Amazins' number, winning the last eight meetings, seven of those in the last five weeks of the 2007 season. This season's barely a week old, but both teams hope to set the tone early.

That's exactly what I hope to do as well. We've had some early successes with the deep-in-the-money calls, and I hope to add to those with today's pick. I'm going with


(BA) - Get The Boeing Company Report

, the heavy-hitting airplane manufacturer.

Its stock is trading near its 52-week low of $71.59. Its high during the last 12 months is $107.83. On Monday, Boeing traded between $74.88 and $76.53 before closing the session a hair below $75 a share.

The company said it would provide investors with an update Wednesday on the progress of its 787 Dreamliner. The Dreamliner aircraft uses lightweight carbon-fiber technology to reduce its weight and lower its carbon footprint by burning less fuel. The plane, which can carry between 210 and 330 passengers, is also said to reduce jet-lag.

The program has already seen its fair share of delays and has yet to hit the runway. Clearly the setbacks are frustrating for Boeing and its customers. However, while the news Wednesday is not likely to be pretty, it also shouldn't be unexpected. Several analysts have already altered their projections for the company, with many expecting another six-to-nine month delay. And some of Boeing's customers have previously said they expect further delays.

But, that doesn't discount the impressive technology behind the Dreamliner and the importance of its fuel efficiency. And it should be near a bottom.

Therefore, I will place a limit order to buy 10 November $60.00 deep-in-the-money calls (BAKL) for $16.10, or better. This will give me the ability to control 1,000 shares of Boeing common stock if my order is filled.

Always remember: Life is a journey, enjoy the ride!

Know What You Own:

Boeing operates in the aerospace and defense industry, and some of the other stocks in its field include

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At the time of publication, Dykstra was long BA.

Nicknamed 'Nails' for his tough style of play, Lenny is a former Major League Baseball player for the 1986 World Champions, New York Mets and the 1993 National League Champions, Philadelphia Phillies. A three time All-Star as a ballplayer, Lenny now serves as president for several privately held businesses in Southern California. He is the founder of The Players Club; it has been his desire to give back to the sport that gave him early successes in life by teaching athletes how to invest and protect their incomes. He currently manages his own portfolio and writes an investment strategy column for, and is featured regularly on CNBC and other cable news shows. Lenny was selected as OverTime Magazine's 2006-2007 "Entrepreneur of the Year."