Best Buy (28.03)

We own two February 30 puts whose adjusted cost basis is 0.60. This figures reflects a partial profit on our position that was realized when we closed out two of the puts for 2.20 as Best Buy fell to our target on Friday. The stock now looks like it will continue to fall to at least 26.82, a Hidden Pivot support. Let’s go for extra bases by shorting two February 27 puts if and when the stock touches 26.95 on the way down. The order is good through Tuesday.