The shares of Boeing (BA: sentiment, chart, options) have hit some headwinds today that have pushed them lower after an initially positive start to the session. This morning, Boeing Co. announced that it has powered on its 787 Dreamliner for the first time in a series of tasks that tests the aircraft's electrical systems. Completing the power-on sequence marks a major milestone for the next-generation wide-body aircraft.

After popping above its 20-day moving average for the first time since May 21, the stock has retreated and is now down 0.92% with the rest of the broad market. The stock could be rejected today at its 20-day trendline, sending it back for another test of support at the 73 level. This area has acted as support on several occasions during the past few months and could halt the stock's pullback again.

Meanwhile, hopes are high for the security. The Schaeffer's put/call open interest ratio for BA stands in the 12th percentile. This indicates that short-term options players have been more optimistically aligned only 12% of the time during the past year. A rejection at the stock's short-term trendline could send some of these bulls scrambling for cover, increasing the selling pressure on BA.