April showers often bring May flowers, and this month, that could happen in parts of the stock market.
Some of April's biggest laggards — which include Penn National Gaming, Enphase Energy, Discovery, Intel, eBay and Boeing — could see big reversals in May, two traders told CNBC's "Trading Nation" on Friday.
EBay's post-earnings drop, for one, is "a great reason to buy the stock," said Danielle Shay, director of options at Simpler Trading.
"This is a really good company. They've seen amazing growth throughout the pandemic," Shay said. "While they're trying to be cautious for next quarter, I do think that people are going to continue to buy online."
With the stock now down near its 200-day moving average just above $55, Shay said options traders could "sell some put credit spreads, sell some naked puts" or simply "pick up the stock at these levels."
"I'm looking for it to actually do really well next quarter," she said. "EBay's my pick here and I'm sticking with online shopping."
Boeing could do well in May if it manages to break above a key level, Piper Sandler senior technical research analyst Craig Johnson said in the same "Trading Nation" interview.
"This is a stock that has sold off 7% over the month of April," he said.
"It's coming right back into a big area of support right around 300, and from our perspective, any sort of move above this … 369 level is going to just open the door for a whole [new] leg higher," Johnson said. "This is a stock that we think should be bought here and I think it will be a winner."
Boeing shares closed down nearly 1% at $234.31 on Friday.
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