Unusual Options Activity in Best Buy $BBY

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Unusual Options Activity in Best Buy BBY
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• Hi, My name is Steve and Im with Options Trading
  Research, today were reviewing our recently
  published article

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• Unusual Options Activity in Best Buy BBY

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• As many of you know, unusual options activity can
  be a valuable indicator as to what traders are
  thinking, and more importantly, where these
  stocks are heading in the short-term.

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• This is something professional options traders
  pay a lot of attention to, and for good reason
  Unusual options activity can tip off big moves
  in a stock, either up or down.

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• So lets take a look at some interesting
  activity that caught our eye this week Best Buy
  BBY is the sole remaining large scale, brick and
  mortar electronics retailer in the US.

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• The company is worth about 11 billion and
  generates over 40 billion in sales each year.
  For a good description of the company, follow the
  link.

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• BBY is trading at 31.24, down 16 for the year.
  Thats 24 below the 52-week high, and 11 above
  the 52-week low.

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• So what does unusual options activity in BBY tell
  us?

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• Its the time of the year again where investors
  are going to be heavily focused on retail sales.
  Consumer spending is nowhere more apparent than
  at retail (online and physical) stores heading
  into the holidays.

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• As the last remaining big store electronics
  chain, BBY does have something of advantage over
  non-specialized stores. Still, many shoppers
  prefer to save money and effort by purchasing
  online.

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• An online giant like Amazon AMZN still has an
  edge over an electronics specialist like BBY
  which has a hard time competing on price. Heres
  the deal This week, a large amount of puts
  traded in BBY options.

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• Keep in mind, a put option makes money when the
  underlying stock goes down before its expiration
  date. To be more specific, traders bought over
  6,000 31 strike puts expiring on December 11th.

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• The average price paid for each contract was
  about 0.70. And, open interest shows this is
  clearly opening action.
• Heres the chart of BBY

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• As you can see, BBY has taken a sharp downturn in
  recent days. The share price has fallen well
  below the 50-day moving average, and is nearing
  the lows of the year.

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• The put buying suggests not only is there no
  upside to look forward to now that December is
  here, but also there could be even more downside
  in the coming days.

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• This could be a bet that investors will punish
  large brick and mortar retailers with Black
  Friday sales way down compared to last year.

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• More Options Trading Ideas

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• Keep in mind, theres a lot more unusual options
  activity going on than what we discuss here. We
  just try to bring you what we feel are the most
  significant ones and the ones you might actually
  be able to make some money on!

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