Rip, I do not own any BA. Too rich for me. I like to deal in 1K share lots so the price of Boeing would be prohibitive thus I deal with options that give me the leverage that I want.
Friday I rolled out of my 20 contracts of the OCT 360P's and sold the FEB 360P's. Today I sold more of the BA Puts, 5 of the DEC320P's for $12.75 cost/share. So what will I do if BA goes back to $350? Depends when. If It is above $320 on OpEx in December I will just collect the $6,372 paid for the premium for the 5 contracts since the $320 options will be worthless. If it is $350 on OpEx in Dec , I will most likely roll it out again with a strike and date appropriate for the moment.
Good luck to you.