Best Buy founder Richard Schulze said he's exploring his options on how to use or leverage his 20.1 percent stake in the company. Here's what he could do:

• Cut his losses and sell his shares.

• Rally investor support to gain 51 percent of the company's stock and replace the board of directors.

• Launch a "hostile" proxy battle to gain control of the board.

• Persuade private equity firms to raise $9 billion to $12 billion to take Best Buy private.