27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Deep-pocketed investors have adopted a bullish approach towards Bristol-Myers Squibb (NYSE:BMY), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BMY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Bristol-Myers Squibb. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $230,927, and 6 are calls, amounting to $470,984.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $55.0 for Bristol-Myers Squibb, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Bristol-Myers Squibb's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bristol-Myers Squibb's whale trades within a strike price range from $40.0 to $55.0 in the last 30 days.
Bristol-Myers Squibb 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | TRADE | BEARISH | 04/19/24 | $50.00 | $170.8K | 5.2K | 742 |
| BMY | CALL | TRADE | BULLISH | 01/17/25 | $40.00 | $120.0K | 979 | 108 |
| BMY | CALL | TRADE | NEUTRAL | 01/17/25 | $40.00 | $118.5K | 979 | 258 |
| BMY | CALL | SWEEP | BULLISH | 09/20/24 | $50.00 | $82.3K | 141 | 204 |
| BMY | CALL | TRADE | BEARISH | 01/17/25 | $40.00 | $59.2K | 979 | 158 |
About Bristol-Myers Squibb
Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is a leader in drug development. Bristol derives close to 70% of total sales from the U.S., showing a higher dependence on the U.S. market than most of its peer group.
Present Market Standing of Bristol-Myers Squibb
- Currently trading with a volume of 3,670,103, the BMY's price is up by 0.08%, now at $50.7.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 22 days.
What Analysts Are Saying About Bristol-Myers Squibb
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $64.0.
- Reflecting concerns, an analyst from B of A Securities lowers its rating to Neutral with a new price target of $60.
- An analyst from B of A Securities persists with their Buy rating on Bristol-Myers Squibb, maintaining a target price of $68.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bristol-Myers Squibb options trades with real-time alerts from Benzinga Pro.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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