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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

OPENING: BBY MARCH 10TH 38/42/47.5/51.5 IRON CONDORBBY announces earnings tomorrow before market open, so look to put on something today before market close to take advantage of the ensuing volatility contraction. Implied volatility rank is currently at 92 over the preceding six months, with implied volatility just shy of the 50% mark. I compared and contrasted going with my standard 20-delta iron condor, as well as a full on iron fly. Here, I'm selling the 30-delta shorts as a sort of compromise ... . Metrics: Probability of Profit: 57% Max Profit: $163/contract Max Loss/Buying Power Effect: $239/contract Break Evens: 40.39/49.11 Delta: -2.39 Theta: 9.03
NYSE:BBY
by NaughtyPines