Best Buy (BBY) Offering Possible 38.5% Return Over the Next 23 Calendar Days

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Best Buy’s most recent trend suggests a bullish bias. One trading opportunity on Best Buy is a Bull Put Spread using a strike $98.00 short put and a strike $93.00 long put offers a potential 38.5% return on risk over the next 23 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $98.00 by expiration. The full premium credit of $1.39 would be kept by the premium seller. The risk of $3.61 would be incurred if the stock dropped below the $93.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Best Buy is bullish and the probability of a rise 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 35.48 level which suggests that the stock is neither overbought nor oversold at this time.

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Is Best Buy a Smart Stock to Buy Now?
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Best Buy (NYSE: BBY) has one of the most impressive histories of any brick-and-mortar retailer when it comes to adapting its business to thrive in an e-commerce world. Matt Frankel: This was Best Buy. About 10 years ago, Best Buy did one of the most successful business pivots of any retailer I’ve seen.

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