We’re long the Feb 30-Feb 27.5 put spread twice (or a multiple thereof) for a net credit of 1.30 per. You can handle this any way you please, but the idea is to come out of expiration on Monday with no stock position. That means that if BBY settles between 27.50 and 30.00, you’ll become automatically short 200 shares through the exercise of the Feb 30 puts (which you can sell intraday to avoid this). The stock position would be canceled out if BBY finishes below 27.50, since the short Feb 27.50 puts will turn into long stock. (Check with your broker on this, since assignment on in-the-moneys is not automatic if the stock finishes very close to the strike.) _______ UPDATE: The stock settled at 27.90, so the worst you could have done was book a profit of $340 per spread. In practice, however, it would have been fairly easy to improve on that, since BBY traded as low as 27.00 intraday. Buying a Feb 27.50 call (for as little as 0.13) would have effectively locked in a profit of as much as $367 per spread.