Best Buy has a trend of declining around the July Retail Sales Report. I’ve placed trades the last 2yrs based on this trend with great success. But, that does not mean it will always work. I always ensure my charts are indicating the move in my direction no matter how well the trend has worked for me in the past.
For this trade, I bought 5 July 30 put options at $2.00. My loss limit is $1.75 and exit point is $2.50.
Here’s a look at my potential profit:
|# Shares or Contracts||Purch Price||Capital Out||Sell Price||Capital In||Comm & Fees||Gain / Loss||
% Gain & Loss
My charts for this trade: