What Are Whales Doing With Bristol-Myers Squibb

A whale with a lot of money to spend has taken a noticeably bearish stance on Bristol-Myers Squibb.

Looking at options history for Bristol-Myers Squibb BMY we detected 15 strange trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 53% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $2,405,838 and 8, calls, for a total amount of $597,960.

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $72.5 for Bristol-Myers Squibb over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Bristol-Myers Squibb options trades today is 8975.09 with a total volume of 18,825.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Bristol-Myers Squibb's big money trades within a strike price range of $55.0 to $72.5 over the last 30 days.

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

Biggest Options Spotted:

Where Is Bristol-Myers Squibb Standing Right Now?

• With a volume of 9,121,838, the price of BMY is down -0.5% at $64.86.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 2 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.