That offer is available now for the Apple Watch and Apple Watch Sport. It pushes the cheaper model down to $249.99 for the 38mm model and $299 for the larger 42mm version. The same goes for the more expensive Apple Watch, which typically starts at $549.
This appears to be the best deal on the Apple Watch at the moment. Best Buy offered a similar discount for Black Friday, though it wasn’t quite as generous for the Sport model. Target is also currently offering a $100 discount, though it comes in the form of store credit.
So if you need to pick up an Apple Watch right now, this is your best bet. Then again, it may be worth waiting a few more months. Rumor has it Apple could unveil a second-generation smartwatch early next year, which may mean even better deals on the original model.