Decoding Bristol-Myers Squibb's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish approach towards Bristol-Myers Squibb BMY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BMY usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Bristol-Myers Squibb. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 4 are puts, totaling $144,665, and 6 are calls, amounting to $314,870.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $55.0 for Bristol-Myers Squibb, spanning the last three months.

Analyzing Volume & Open Interest

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 $50.0 to $55.0 in the last 30 days.

Bristol-Myers Squibb 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

After a thorough review of the options trading surrounding Bristol-Myers Squibb, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Bristol-Myers Squibb's Current Market Status

• Currently trading with a volume of 4,625,840, the BMY's price is up by 0.42%, now at $52.64.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 84 days.

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.