Maintain BA at current $234 allocation with HOLD rating; do not add into $240-$254 resistance on stretched 56.7x forward multiple and declining volume (3.86M on 8/7 vs 10.99M on 8/3). Risk/reward is approximately symmetric (+12%/-13%) at current levels, making disciplined entry triggers essential to avoid being stopped out given the 7.51 ATR. Implement put hedge (Sept/Dec $220-$225 strikes at 1-2% of position cost) to neutralize binary Q2 earnings and FAA AD overhang while preserving upside if Max 7 monetization delivers.