Best Buy (BBY) Offering Possible 43.27% Return Over the Next 6 Calendar Days

Best Buy's most recent trend suggests a bullish bias. One trading opportunity on Best Buy is a Bull Put Spread using a strike $75.00 short put and a strike $70.00 long put offers a potential 43.27% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $75.00 by expiration. The full premium credit of $1.51 would be kept by the premium seller. The risk of $3.49 would be incurred if the stock dropped below the $70.00 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Best Buy is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Best Buy is bullish.

The RSI indicator is at 60.39 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Best Buy

Best Buy Co., Inc. (BBY): Were Hedge Funds Right About This Stock?
Wed, 06 May 2020 22:36:30 +0000
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

Best Buy (BBY) Gains But Lags Market: What You Should Know
Tue, 05 May 2020 21:50:09 +0000
Best Buy (BBY) closed the most recent trading day at $74.75, moving +0.52% from the previous trading session.

Best Buy’s store reopening strategy gives every customer one-on-one service
Sat, 02 May 2020 13:08:00 +0000
Stores are releasing their plans for reopening stores once lockdown orders are loosened, with some opting for appointment-only service and all emphasizing sanitation procedures.

Whirlpool CEO: We will see a U-shaped recovery from the COVID-19 pandemic
Fri, 01 May 2020 18:02:55 +0000
Whirlpool CEO Marc Bitzer joins Yahoo Finance to discuss the road ahead for the appliance giant.

J.Crew prepares to file for bankruptcy: report
Thu, 30 Apr 2020 22:31:09 +0000
As retailers continue to grapple with the impacts of coronavirus in an already struggling environment, another chain is reportedly preparing to close its doors for good. J.Crew’s filing for bankruptcy protection could come as soon as this weekend, according to The Wall Street Journal. The company suspended its initial public offering of its Madewell brand after it failed to reach a deal with creditors back in March.

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