As the airline sector continues to reel in the face of the spreading coronavirus, Boeing Co (NYSE:BA) is no exception. BA was last seen trading down at 14.1% at $162.36, earlier touching a nearly three-year bottom of $155.55. Boeing announced it would be halting hiring and restricting overtime and work-related travel, while also reportedly withdrawing its entire credit line from a loan granted last month to the value of $13.8 billion. A downgrade from J.P. Morgan Securities is also weighing heavy, the equity lowering to “neutral” from “overweight” and cutting to a street-low $210 price target, saying 737-Max and coronavirus headwinds have hit harder than expected.

Boeing has failed in receiving support to pare its recent losses. In fact, the 10-day moving average has only guided BA to its current position, completely eradicating a miniature rally the airline company experienced in February, one that took the stock up near the $350 mark. Year-to-date, the security remains down 50%.

Analysts are currently scattered on BA’s equity. Out of the 15 covering analysts, 10, saying now is the time to “hold.” Meanwhile, on the either side of the fence, four recommend a “strong buy,” while the remaining carry a “strong sell.”.

In the options pits, puts have been the preferred choice among traders. This is per the equity’s 10-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that sits in the 91st percentile its annual range.

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