The protective put we purchased to hedge against a post-earnings sell-off in Best Buy (BBY) is on track to expire worthless. Shares popped following the announcement despite a revenue miss, but they are selling off today with the broader market.
Note: No action is needed on the BBY Mar Monthly (3/18) 102 Call at this time.
Current Stock Price: $102.32
Cost Basis: $102.27
Action: Watch the BBY Mar Week One (3/4) 90 Put expire worthless