Bed Bath & Beyond, Inc. BBBY
The last time we were mentioning Bed Bath & Beyond, was back in January when the stock was trading just below $14. It’s been in a solid uptrend more recently, reaching over 19.50 yesterday. However, we’re getting a bearish feeling from the chart now, especially following the company’s earnings report for the 4th quarter yesterday postmarket.
The company came fairly close to analyst expectations on earnings, yet recorded same-store sales declines for the seventh quarter in a row as e-commerce players like Amazon continue to horn in on brick-and-mortar reliant chains.
We are going to track a bearish options idea into the end of the week for this chain, with the BBBY Weekly $17.50-17 Puts, with the stock already being down a couple of dollars from yesterday’s highs here in the premarket.
FRESH OPTIONS IDEA:
Fastenal, Inc. FAST 04/18 $62.50-67.50 Calls
VKTX, EVH, FRED, KNDI, GLG, TOPS