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.
Investors with a lot of money to spend have taken a bullish stance on Bristol-Myers Squibb (NYSE:BMY).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BMY, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for Bristol-Myers Squibb.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $336,105, and 5 are calls, for a total amount of $236,210.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $72.5 for Bristol-Myers Squibb during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bristol-Myers Squibb's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bristol-Myers Squibb's significant trades, within a strike price range of $40.0 to $72.5, over the past month.
Bristol-Myers Squibb Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | CALL | TRADE | BEARISH | 09/20/24 | $42.00 | $101.1K | 104 | 100 |
| BMY | PUT | SWEEP | BULLISH | 06/21/24 | $72.50 | $64.2K | 159 | 34 |
| BMY | PUT | SWEEP | BULLISH | 06/21/24 | $67.50 | $63.7K | 119 | 2 |
| BMY | PUT | SWEEP | NEUTRAL | 06/21/24 | $57.50 | $48.3K | 1.7K | 102 |
| BMY | PUT | SWEEP | NEUTRAL | 05/16/25 | $55.00 | $48.3K | 2 | 102 |
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.
After a thorough review of the options trading surrounding Bristol-Myers Squibb, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Bristol-Myers Squibb
- Currently trading with a volume of 6,744,367, the BMY's price is up by 0.16%, now at $51.41.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 62 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 $52.5.
- An analyst from Redburn Atlantic downgraded its action to Neutral with a price target of $54.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Bristol-Myers Squibb with a target price of $51.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bristol-Myers Squibb with Benzinga Pro for real-time alerts.
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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