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 9 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 66% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $230,927, and 6 are calls, amounting to $470,984.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $55.0 for Bristol-Myers Squibb, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $40.0 to $55.0 in the last 30 days.
Bristol-Myers Squibb 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | TRADE | BEARISH | 04/19/24 | $50.00 | $170.8K | 5.2K | 742 |
| BMY | CALL | TRADE | BULLISH | 01/17/25 | $40.00 | $120.0K | 979 | 108 |
| BMY | CALL | TRADE | NEUTRAL | 01/17/25 | $40.00 | $118.5K | 979 | 258 |
| BMY | CALL | SWEEP | BULLISH | 09/20/24 | $50.00 | $82.3K | 141 | 204 |
| BMY | CALL | TRADE | BEARISH | 01/17/25 | $40.00 | $59.2K | 979 | 158 |
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
- Currently trading with a volume of 3,670,103, the BMY's price is up by 0.08%, now at $50.7.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 22 days.
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 $64.0.
- Reflecting concerns, an analyst from B of A Securities lowers its rating to Neutral with a new price target of $60.
- An analyst from B of A Securities persists with their Buy rating on Bristol-Myers Squibb, maintaining a target price of $68.
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.
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