Best Buy (28.10)

9131We’re long the Feb 30-Feb 27.5 put spread twice (or a multiple thereof) for a net credit of 1.30 per. This guarantees us a profit of at least $260 come Friday, when the puts expire, but we could make as much as $760 if BBY settles 27.50 or lower. One way to lock in a profit, and to eliminate any stock position that might arise from the exercise/assignnment of our options, is to buy the Feb 27.5-Feb 30 call spread twice. Let’s try to leg it on, bidding first for the Feb 27.5 calls @ 0.30, good through Thursday.