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Benzinga Insights

Check Out What Whales Are Doing With BBY

A whale with a lot of money to spend has taken a noticeably bearish stance on Best Buy Co.

Looking at options history for Best Buy Co (NYSE:BBY) we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $232,755 and 7, calls, for a total amount of $317,343.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $80.0 for Best Buy Co over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Best Buy Co options trades today is 2504.44 with a total volume of 33,259.00.

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 $60.0 to $80.0 over the last 30 days.

Best Buy Co Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
BBY CALL TRADE BULLISH 05/27/22 $74.00 $81.9K 405 106
BBY CALL TRADE BEARISH 05/27/22 $80.00 $60.0K 5.5K 7.3K
BBY PUT SWEEP BULLISH 05/27/22 $60.00 $60.0K 2.0K 3.2K
BBY PUT TRADE BEARISH 05/27/22 $72.00 $56.4K 613 767
BBY CALL SWEEP BULLISH 05/27/22 $72.00 $40.3K 545 1.2K

Where Is Best Buy Co Standing Right Now?

  • With a volume of 2,765,837, the price of BBY is up 0.04% at $72.39.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 1 days.

What The Experts Say On Best Buy Co:

  • Citigroup has decided to maintain their Sell rating on Best Buy Co, which currently sits at a price target of $80.
  • Wedbush has decided to maintain their Neutral rating on Best Buy Co, which currently sits at a price target of $80.
  • Telsey Advisory Group has decided to maintain their Outperform rating on Best Buy Co, which currently sits at a price target of $90.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

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