BBYY34 trade ideas
Elliot Wave - Downside Coming for BBYWait for a break of the daily flag to get short. Price Target 49.49
BBY possible upsideBBY and some retailers held up well today despite the market being bearish. I think this is a good long if markets rebound tomorrow.
BBY Breakout?BBY does not seem to want to break over that 60 mark. Indicators plus technical analysis showing a short might be appropriate for the long term if the price bounces back from this resistance point or a long if it decides to break over that 60 mark also the bull flag formed starting May might be a good indicator that this thing is ready to break out
BBY Long Short TermBest Buy falling and bouncing at the 23.6% fibionacci level.
Currently stuck at the 50 and 20 SMA averages on the 5 minute chart.
This is a short run.... but a good one.
Trade with confidence
Long BBY by Short June 46 PutBBY is in up trend with strong support around 46 to 47 area. I setup the long position by shorting the June 46 put.
Here is the position:
Sell June 46 Put
Premium: 0.75$
Break even point: 45.25$.
BBY - POTENTIAL TOP10.05.17
Signals of a potential TOP from my dTFIr on DAILY chart
Awaiting confirmation
Best Buy is the best time to buy... heheWell not recovering the gap, I suspect it will bounce at this level.. I might be totally wrong.. but it is only two week to earning..
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
Short $BBY on completion of Elliot WaveGetting short some $BBY here.
Staying away from options as earning are upcoming.
BBY dont ever say dieBBY despite my personal opinion seems to be doing very solid the last several years.
all earning better then expected.
slumps are typical rise on earning, shorting into dividend pattern
seems to have formed an adam + eve bottom and reclaimed it last level
probably will rise into earning , sell off a bit into dividend then sideways up till christmas
BBY is part of an index though so if the whole thing goes tits up, welp.
BBY Short - Gap Fill into EarningsNormally BBY responds well to earnings, but currently stock is testing 10-year resistance around 39. Probability dictates this will fail and IMO there is a vacuum down to the 33-ish level.
