Best Buy Co Unusual Options Activity For June 05

Financial giants have made a conspicuous bearish move on Best Buy Co. Our analysis of options history for Best Buy Co BBY revealed 13 unusual trades.

Delving into the details, we found 23% of traders were bullish, while 69% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $344,893, and 5 were calls, valued at $215,901.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $78.0 to $110.0 for Best Buy Co over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Best Buy Co stands at 485.75, with a total volume reaching 3,240.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Best Buy Co, situated within the strike price corridor from $78.0 to $110.0, throughout the last 30 days.

Best Buy Co Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About Best Buy Co

With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., 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 U.S. 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

Where Is Best Buy Co Standing Right Now?

• With a trading volume of 1,756,828, the price of BBY is up by 0.48%, reaching $88.27.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 83 days from now.

What The Experts Say On Best Buy Co

In the last month, 5 experts released ratings on this stock with an average target price of $89.4.

• Consistent in their evaluation, an analyst from Citigroup keeps a Sell rating on Best Buy Co with a target price of $67.
• Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on Best Buy Co with a target price of $95.
• An analyst from Telsey Advisory Group has decided to maintain their Outperform rating on Best Buy Co, which currently sits at a price target of $95.
• Showing optimism, an analyst from Citigroup upgrades its rating to Buy with a revised price target of $100.
• An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Best Buy Co, which currently sits at a price target of $90.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Best Buy Co, Benzinga Pro gives you real-time options trades alerts.