Best Buy (BBY) appears to be stalling after a monster run-up following the release of better-than-expected quarterly results last week. Shares have gained more than 18% in just over a week. However, the stock remains vulnerable as it is in the midst of a crucial period for retailers. The latest numbers from the Conference Board…
Best Buy (BBY) has moved higher over the past month on renewed optimism in the retail sector. However, shares are down today ahead of tomorrow’s expected earnings announcement. I am recommending the purchase of a protective put to hedge against a post-earnings sell-off, as well as potentially weak initial Black Friday sales data. The goal…
Best Buy (BBY) is moving higher on renewed optimism in the retail sector ahead of tomorrow’s release of October retail sales data. Our short call is deep in the money. I am recommending we roll it out to the December monthly expiration and up to a higher strike price to avoid being called out of…
Let’s roll the short leg of our Best Buy (BBY) LEAP call recovery position to generate more income and reduce our cost basis on the position. Note: No action is needed on the BBY Jan 2024 (1/19/24) 50 Calls at this time. Current Stock Price: $68.74 Cost Basis $83.27 Action: Buy to close 3 BBY…
I am recommending we roll the short leg of our Best Buy (BBY) LEAP call recovery position out two weeks to generate more income and reduce our cost basis on the position. Note: No action is needed on the BBY Jan 2024 (1/19/24) 50 Calls at this time. Current Stock Price: $66.82 Cost Basis: $86.51…
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:…
I am recommending we roll the short legs of our Best Buy (BBY) and Target (TGT) LEAP call spreads to generate more income and reduce our cost basis on the positions. And then let’s use some of the cash we generate to offset the purchase of protective puts ahead of tomorrow’s Consumer Price Index report.…
It’s time to initiate a LEAP call recovery tactic on Best Buy (BBY) and Nike (NKE). It involves using the capital from selling our shares of BBY and NKE to purchase long-dated call options. After purchasing the LEAPS, we will sell short-term calls against them to bring in income, taking advantage of the leverage the…
Our Best Buy (BBY) Sep Week Five (9/30) 75 Put is deep in the money and we are on track to be assigned shares. Factoring in our large net debit, our cost basis will be significantly above the current share price. Therefore, I plan to recommend selling our shares soon and using that capital to…
I am recommending we roll our Best Buy (BBY) and SPDR S&P Biotech ETF (XBI) puts. We are going out two weeks due to next week’s Federal Reserve meeting. While the Fed is widely expected to raise rates 0.75%, the market could move sharply in either direction based on the actual size of the rate…
