BBY Fib Retracement and Prediction
BBY had a heavy drop for earnings on Tuesday. I was lucky enough to have grabbed some lotto puts before close and ended up making 600%. After that, I added $125 calls 12/17 around the $117.50 area at 1.95 once I saw a reversal confirmation and that it was bouncing off the 200ma on the daily. What I expect to happen tomorrow is BBY to push up to the 124.38 area and then go back down from there. If I see it resisting at the fib, I will sell my calls for profit and switch to puts. If it is able to break 124.38 and the mental barrier of 125, I will continue riding my calls until I see a reason to exit.
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