Benzinga's options scanner just detected over 8 options trades for Best Buy Co BBY summing a total amount of $2,538,317.
At the same time, our algo caught 6 for a total amount of 2,493,057.
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 $80.0 and $89.0 for Best Buy Co, spanning the last three months.
Analyzing Volume & Open Interest
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 $80.0 to $89.0, over the past month.
Best Buy Co 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BBY | PUT | TRADE | BULLISH | 12/20/24 | $3.45 | $3.3 | $3.35 | $80.00 | $2.1M | 369 | 6.3K |
| BBY | PUT | SWEEP | BULLISH | 01/17/25 | $7.0 | $6.85 | $6.85 | $87.50 | $120.5K | 1.0K | 197 |
| BBY | PUT | SWEEP | BULLISH | 12/20/24 | $5.5 | $5.3 | $5.3 | $85.00 | $89.5K | 641 | 319 |
| BBY | PUT | SWEEP | BULLISH | 12/20/24 | $5.4 | $5.25 | $5.25 | $85.00 | $72.9K | 641 | 150 |
| BBY | PUT | SWEEP | BULLISH | 12/20/24 | $6.7 | $6.55 | $6.55 | $87.50 | $66.1K | 479 | 339 |
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
Best Buy Co's Current Market Status
- With a volume of 2,035,147, the price of BBY is down -1.55% at $87.5.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 1 days.
Expert Opinions on Best Buy Co
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $95.0.
- Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Best Buy Co with a target price of $95.
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.
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