Goldman Sachs Suggests Overwriting Shares of Best Buy (BBY)

Goldman Sachs is out with a research note this morning, where it suggests that traders sell calls against their stock position in Best Buy BBY ahead of earnings. While GS Hardlines Retail analyst, Matthew Fassler, acknowledges that BBY's story is setting up better than it has in a long time into earnings on March 24th and its Analyst Day on April 16th, he remains Neutral rated beyond these events given continued structural issues facing the company. Goldman suggests selling the June $33 call for $1.26. Best Buy Co., Inc. is a multinational retailer of consumer electronics, home office products, entertainment software, appliances and related services. It operates in two segments: Domestic and International.