Decoding Best Buy Co's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bullish move on Best Buy Co. Our analysis of options history for Best Buy Co BBY revealed 8 unusual trades.

Delving into the details, we found 75% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $710,067, and 3 were calls, valued at $144,636.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $72.0 to $85.0 for Best Buy Co over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Best Buy Co's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Best Buy Co's whale trades within a strike price range from $72.0 to $85.0 in the last 30 days.

Best Buy Co 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Best Buy Co

With $46.3 billion in consolidated fiscal 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., boasting roughly 8.5% share of the U.S. market and north of 35% share of offline sales, 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.

In light of the recent options history for Best Buy Co, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Best Buy Co Standing Right Now?

• With a trading volume of 1,474,258, the price of BBY is up by 0.63%, reaching $79.56.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 1 days from now.

Professional Analyst Ratings for Best Buy Co

In the last month, 1 experts released ratings on this stock with an average target price of $75.0.

• An analyst from Telsey Advisory Group has revised its rating downward to Market Perform, adjusting the price target to $75.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Best Buy Co options trades with real-time alerts from Benzinga Pro.