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BEST BUY CO. INCBEST BUY CO. INCBEST BUY CO. INC

BEST BUY CO. INC

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BBY trade ideas

BBY Earnings Play; Unbalanced Iron Condor W/ $0 Upside RiskBestBuy has been consolidating since the beginning of July. Earnings are due tomorrow before the opening, and our IV% is at 56%, so I am looking for a play here to collect a credit. Historically looking at BBY we can see usually see a slightly bullish move after earnings (EPS, which is usually beating estimates). Because of this, and being at the top of this range with our other indicators showing bullish momentum as indicated on the chart, I want upside protection, while I expect the range in BBY to continue through expiration this Friday. All that being said, and what is shown on the chart, I am selling for a $0.50-$0.55 credit the 25/29.5/34.5/35 Put/Put/Cal/Call. This means if we break out from here, not only will I likely be putting on another bullish trade to take advantage of the breakout, but I will still have a small (VERY small) profit. That however beats a loss. Ideally, we would like volatility to collapse and BBY to stay between $29.00 and $34.50, but anything above $29.00 would be acceptable.
NYSE:BBY
by TheProfitcy
BBY - double top forming within rising channels.Pullback Status: Short - cutting my loses. Maybe premature but holding above 200ma and trendline Horizontal S&R: no Channel S&R: yes MA S&R: 20 & 200 Stochastic turn/crossover above 80%: yes AO pullback >0= 85: yes Price Pullback Fib >0.382: Next Earnings date: 8/26 Increasing EPS: beat Increasing Rev: missed www.estimize.com Short float: 8% shortsqueeze.com *stop 1 atr below swing low. ** first price target is 50% the move from entry price to previous high. ***No Biotech **** Only short if price is below 50 and/or 200 ma Any feedback is welcomed! Thx Cost basis: 29.57 Stop: First price target:
NYSE:BBYShort
by SR618
BBY: Selling ResumingBBY seems to be resuming it's slide here. Two relatively big volume down days with the price under the moving average ribbon and the MACD crossing negatively is a precursor for further downside action. I am expecting the stock to reach the 23 area at the very least. The value of investments may go down as well as up and you may not get back your original investment. Past performance is not necessarily a guide to future performance. This information is suitable for institutional and other accredited investors only. This document does not constitute, or form part of an offer to issue or sell, nor a solicitation to subscribe, in shares, units or other interests in investments. Nor does it constitute investment advice and is for information purposes only. Although we have taken all reasonable care to ensure that the information contained within is accurate at the time of publication, no representation or warranty is made as to its accuracy, reliability or completeness.
NYSE:BBYShort
by darrin19