@ $19.35: BBY Might Be a Best Buy Again
Best Buy (BBY) opened down more than 29%. Market Shadows jumped in quickly while panic was in the air. Our Virtual Put Writing Portfolio sold four contracts of BBY's Jan. 2016, $25 puts for a premium of $5.65 per share.
Our maximum gain becomes 100% of the $2,260 we collected. We will realize that gain in full if BBY merely remains above $25 through the option’s Jan. 15, 2016 expiration date.
We must stand ready to purchase 400 shares at a net price of just $19.35 ($25 strike price - $5.65 put premium).
See all Market Shadows’ closed-out and currently open option positions by clicking here.
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