Financial giants have made a conspicuous bearish move on Best Buy Co. Our analysis of options history for Best Buy Co BBY revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $502,834, and 3 were calls, valued at $107,013.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $82.5 and $100.0 for Best Buy Co, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Best Buy Co's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Best Buy Co's substantial trades, within a strike price spectrum from $82.5 to $100.0 over the preceding 30 days.
Best Buy Co Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BBY | PUT | SWEEP | BEARISH | 06/20/25 | $14.4 | $13.1 | $14.4 | $95.00 | $168.4K | 218 | 102 |
| BBY | PUT | SWEEP | BEARISH | 06/20/25 | $14.2 | $14.15 | $14.15 | $95.00 | $115.9K | 218 | 0 |
| BBY | PUT | SWEEP | BULLISH | 06/20/25 | $14.65 | $14.45 | $14.45 | $95.00 | $95.3K | 218 | 285 |
| BBY | PUT | SWEEP | BEARISH | 06/20/25 | $14.5 | $13.95 | $14.45 | $95.00 | $63.5K | 218 | 219 |
| BBY | CALL | SWEEP | BEARISH | 12/20/24 | $3.25 | $3.1 | $3.25 | $100.00 | $51.8K | 670 | 2 |
About Best Buy Co
With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the US, boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data. The firm generates the bulk of its sales in-store, with mobile phones and tablets, computers, and appliances representing its three largest categories. Recent investments in e-commerce fulfillment, accelerated by the covid-19 pandemic, have seen the US e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward.
Having examined the options trading patterns of Best Buy Co, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Best Buy Co
- With a volume of 1,710,490, the price of BBY is up 0.5% at $86.0.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 47 days.
What The Experts Say On Best Buy Co
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $96.0.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Best Buy Co, targeting a price of $86.
- An analyst from UBS upgraded its action to Buy with a price target of $106.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Best Buy Co with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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