Investors with a lot of money to spend have taken a bullish stance on Bristol-Myers Squibb 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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with BMY, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Bristol-Myers Squibb.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $422,402, and there was 1 call, for a total amount of $174,000.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $60.0 for Bristol-Myers Squibb, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Bristol-Myers Squibb's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Bristol-Myers Squibb's substantial trades, within a strike price spectrum from $45.0 to $60.0 over the preceding 30 days.
Bristol-Myers Squibb Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | CALL | TRADE | BEARISH | 05/17/24 | $52.50 | $173.9K | 0 | 1.5K |
| BMY | PUT | SWEEP | BULLISH | 01/16/26 | $45.00 | $133.0K | 2.3K | 605 |
| BMY | PUT | SWEEP | BULLISH | 01/16/26 | $45.00 | $90.6K | 2.3K | 203 |
| BMY | PUT | SWEEP | BEARISH | 04/19/24 | $60.00 | $81.0K | 412 | 75 |
| BMY | PUT | SWEEP | BULLISH | 01/17/25 | $45.00 | $33.6K | 6.1K | 229 |
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.
In light of the recent options history for Bristol-Myers Squibb, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Bristol-Myers Squibb
- With a trading volume of 8,803,410, the price of BMY is up by 0.14%, reaching $48.78.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 76 days from now.
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.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Bristol-Myers Squibb, targeting a price of $51.
- An analyst from Redburn Atlantic has revised its rating downward to Neutral, adjusting the price target to $54.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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