11/26/13 TUES

                                 

Best Buy Co Inc.           NYSE: BBY

IV Jan Monthly 42.60%

BBY holding up along a long term trend line starting from a low set on around Jan 9^th, 2012 at 11.40 levels.  The trend is coming in around 39.30 areas. Broke through and rallied back above the trend line after breaking down about 15% from the recent highs. Looking at selling the Jan Iron Condor 44/43 call vs the 40/39 put for .75 or better. Stock gapped lower from 43.14 not a bad risk reward with earnings behind going into the holiday season with IV in Jan sitting around 42.40%

Technical Support        39.35*    37.4/36.8**   32.90/31.85***

Technical Resistance   40.80/41.12*    42.25*     42.90/43.40**

Open Int. (est.)   Strike Jan Monthly (52)

37               4,670

38               2,300

39               2,120

40               7,230

41               1,645

42             15,880

43               4,665

44               1,995

45               3,315

*Disclaimer: This is not a recommendation. All trading entails risk. Anyone employing any strategies and having limited knowledge of options trading should consult with a FNRA licensed professional.