Smart Money Is Betting Big In BMY Options

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 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 8 uncommon 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 special options we uncovered, 3 are puts, for a total amount of $236,906, and 5 are calls, for a total amount of $208,940.

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 $25.0 to $45.0 for Bristol-Myers Squibb during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Bristol-Myers Squibb stands at 2282.17, with a total volume reaching 5,551.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bristol-Myers Squibb, situated within the strike price corridor from $25.0 to $45.0, throughout the last 30 days.

Bristol-Myers Squibb Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
BMY PUT SWEEP BULLISH 09/20/24 $3.25 $3.2 $3.2 $43.00 $155.5K 4.0K 2.9K
BMY CALL SWEEP BULLISH 01/16/26 $16.6 $16.25 $16.6 $25.00 $83.0K 2.5K 6
BMY PUT SWEEP BULLISH 06/20/25 $4.3 $3.65 $3.65 $40.00 $47.0K 5.1K 462
BMY CALL SWEEP BULLISH 08/16/24 $4.55 $4.45 $4.55 $37.00 $43.6K 2 62
BMY PUT SWEEP BEARISH 09/20/24 $3.2 $3.15 $3.2 $43.00 $34.2K 4.0K 1.8K

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

  • With a volume of 13,207,471, the price of BMY is up 1.35% at $41.43.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 48 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.

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Posted In: OptionsMarketsBZI-UOA
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