The protective puts we purchased to hedge our Best Buy (BBY) LEAP call recovery position are on track to expire worthless. We will simply watch them do so.
Note: No action is needed on the BBY Jan 2024 (1/19/24) 50/Oct Week Four (10/28) 70 Call Spread at this time.
Current Stock Price: $63.96
Cost Basis: $86.51 (The cost basis was incorrectly listed as $88.51 in the previous alert.)
Action: Watch the BBY Oct Week Two (10/14) 60 Puts expire worthless