Financial giants have made a conspicuous bullish move on Best Buy Co. Our analysis of options history for Best Buy Co (NYSE:BBY) revealed 11 unusual trades.
Delving into the details, we found 63% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $184,724, and 7 were calls, valued at $343,144.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $75.0 to $90.0 for Best Buy Co over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Best Buy Co options trades today is 158.14 with a total volume of 15,865.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Best Buy Co's big money trades within a strike price range of $75.0 to $90.0 over the last 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 | CALL | TRADE | BULLISH | 02/21/25 | $4.6 | $4.6 | $4.6 | $85.00 | $91.9K | 91 | 3 |
| BBY | PUT | TRADE | BULLISH | 12/06/24 | $5.75 | $3.55 | $4.38 | $90.00 | $76.6K | 585 | 177 |
| BBY | CALL | SWEEP | BEARISH | 12/06/24 | $2.49 | $1.05 | $1.5 | $88.00 | $60.0K | 120 | 518 |
| BBY | CALL | TRADE | BULLISH | 06/18/26 | $19.85 | $16.25 | $19.8 | $75.00 | $59.4K | 6 | 30 |
| BBY | PUT | SWEEP | BEARISH | 06/20/25 | $9.4 | $9.35 | $9.4 | $87.50 | $48.9K | 87 | 672 |
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.
Present Market Standing of Best Buy Co
- Currently trading with a volume of 4,544,823, the BBY's price is down by -8.23%, now at $85.37.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 0 days.
Expert Opinions on Best Buy Co
2 market experts have recently issued ratings for this stock, with a consensus target price of $113.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Best Buy Co, targeting a price of $109. * An analyst from JP Morgan persists with their Overweight rating on Best Buy Co, maintaining a target price of $117.
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.
