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.
Whales with a lot of money to spend have taken a noticeably bearish stance on Bristol-Myers Squibb.
Looking at options history for Bristol-Myers Squibb (NYSE:BMY) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $337,067 and 6, calls, for a total amount of $208,010.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $44.0 and $55.0 for Bristol-Myers Squibb, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $44.0 to $55.0 in the last 30 days.
Bristol-Myers Squibb Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $7.2 | $7.1 | $7.2 | $55.00 | $131.0K | 1.2K | 183 |
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $7.2 | $7.1 | $7.2 | $55.00 | $117.3K | 1.2K | 348 |
| BMY | CALL | SWEEP | BULLISH | 10/18/24 | $6.55 | $6.45 | $6.55 | $44.00 | $52.3K | 610 | 1 |
| BMY | PUT | SWEEP | NEUTRAL | 05/17/24 | $2.32 | $2.29 | $2.3 | $50.00 | $51.7K | 3.9K | 399 |
| BMY | CALL | SWEEP | BULLISH | 05/16/25 | $2.98 | $2.86 | $2.97 | $55.00 | $40.4K | 257 | 141 |
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.
Current Position of Bristol-Myers Squibb
- Currently trading with a volume of 5,999,776, the BMY's price is up by 0.97%, now at $48.75.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 10 days.
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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