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Boeing Shares Ready For Lift-Off?

The traders are keeping a close eye on Boeing as the deadline nears for a $35 billion contract with the US Air Force.

Bids are due Friday July 9 with chatter suggesting Boeing's only 'real' competition being Airbus.

And, after a recent ruling by the WTO that found Airbus had received illegal subsidies, chatter also suggested that odds favored Boeing.

I think the odds are 60% in favor that Boeing wins the tanker contract, says CK Cooper analyst Alex Hamilton.

The Pentagon, however, isn't expected to name the winner a few months.

What’s the trade?

I’m broadly bullish of commercial aerospace, he adds. We’re in the first year of a 5-year up cycle. Perhaps the way to play it is with Boeing supplier Spirit.

Check out the full interview with CK Cooper analyst Alex Hamilton. Watch the video now!

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Trader disclosure: On July 8, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (GOOG), (AMZN), (MON), (APC), (GMCR), (MYL), (MRVL), (BAC), (ADI), (ADBE), (AKAM), (HES), (CVS), (AXP), (EMC), (ABT); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman’s Firm owns (AEO); Finermans’ Firm owns (ANF); Finerman’s Firm owns (BAC) stock and calls; Finerman and Finerman’s Firm own (BAC) preferred; Finerman and Finerman’s Firm owns (BBY); Finerman owns (BP) calls; Finerman owns (C); Finerman and Finerman’s Firm own (CVS); Finerman owns (GLW); Finerman & Finerman’s Firm owns (GOOG); Finerman & Finerman’s Firm owns (HPQ); Finerman & Finerman’s Firm owns (IBM); Finerman & Finerman’s Firm owns (JPM) stock & calls ; Finerman owns (SKS); Finerman’s firm owns (PM); Finerman’s Firm owns (RIG); Finerman’s Firm owns (TGT); Finerman’s Firm owns (WMT); Finerman’s Firm is short (IJR); Finerman’s Firm is short (IWM); Finerman’s Firm is short (MOY); Finerman’s Firm is short (SPY); Pete Najarian owns (DD) Calls; Pete Najarian owns (TJX) Calls; Pete Najarian owns (USB); Pete Najarian owns (CSX) Calls; Pete Najarian owns (CNI) Stock, short Calls; Pete Najarian owns (GNW) Calls; Pete Najarian owns (HPQ), short calls; Pete Najarian owns (MRVL), short calls; Pete Najarian owns (CMC) a call spread; Pete Najarian owns (TCK), short calls; Pete Najarian owns (AMD) calls; Pete Najarian owns (LLC) a call spread; Pete Najarian owns (C) calls; Pete Najarian owns (BAC); Pete Najarian owns (BBY) a call spread

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Joe LaVorgna

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Dennis Gartman

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