This Is What Whales Are Betting On Bristol-Myers Squibb

Someone with a lot of money to spend has taken a bearish stance on Bristol-Myers Squibb BMY.

And retail traders should know.

We noticed this today when the big position 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 32 uncommon options trades for Bristol-Myers Squibb.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 59%, bearish.

Out of all of the special options we uncovered, 13 are puts, for a total amount of $745,581, and 19 are calls, for a total amount of $1,649,988.

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 $62.5 to $78.0 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 4176.26 with a total volume of 21,622.00.

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 $62.5 to $78.0 over the last 30 days.

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

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
BMY CALL SWEEP NEUTRAL 10/21/22 $70.00 $293.0K 3.3K 1.6K
BMY PUT TRADE BULLISH 01/19/24 $70.00 $250.0K 1.0K 400
BMY CALL SWEEP BULLISH 10/21/22 $70.00 $242.9K 3.3K 957
BMY CALL SWEEP NEUTRAL 01/20/23 $65.00 $209.0K 7.5K 241
BMY CALL TRADE BULLISH 09/16/22 $62.50 $123.5K 362 301

Where Is Bristol-Myers Squibb Standing Right Now?

  • With a volume of 14,486,616, the price of BMY is up 4.95% at $73.64.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 44 days.

What The Experts Say On Bristol-Myers Squibb:

  • BMO Capital has decided to maintain their Outperform rating on Bristol-Myers Squibb, which currently sits at a price target of $94.
  • Atlantic Equities has decided to maintain their Overweight rating on Bristol-Myers Squibb, which currently sits at a price target of $87.

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 want to stay updated on the latest options trades for Bristol-Myers Squibb, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!