Best Buy Co's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bullish stance on Best Buy Co.

Looking at options history for Best Buy Co BBY we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 37% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $271,851 and 2, calls, for a total amount of $82,903.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $92.5 for Best Buy Co during the past quarter.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Best Buy Co's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Best Buy Co's significant trades, within a strike price range of $70.0 to $92.5, over the past month.

Best Buy Co Call and Put Volume: 30-Day Overview

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.

Current Position of Best Buy Co

• With a trading volume of 712,769, the price of BBY is up by 0.39%, reaching $86.72.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 75 days from now.

What Analysts Are Saying About Best Buy Co

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $93.0.

• Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for Best Buy Co, targeting a price of $100.
• An analyst from Wedbush downgraded its action to Neutral with a price target of $85.
• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Best Buy Co with a target price of $90.
• An analyst from DA Davidson has decided to maintain their Buy rating on Best Buy Co, which currently sits at a price target of $95.
• Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Best Buy Co, targeting a price of $95.

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