Bristol-Myers Squibb's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bullish stance on Bristol-Myers Squibb.

Looking at options history for Bristol-Myers Squibb BMY we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 75% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $95,225 and 6, calls, for a total amount of $221,795.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $55.0 for Bristol-Myers Squibb over the last 3 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 $40.0 to $55.0 in the last 30 days.

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

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Bristol-Myers Squibb, we pivot to a closer look at the company's own performance.

Bristol-Myers Squibb's Current Market Status

• With a volume of 8,562,919, the price of BMY is up 1.89% at $51.85.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 52 days.

Professional Analyst Ratings for Bristol-Myers Squibb

2 market experts have recently issued ratings for this stock, with a consensus target price of $52.5.

• An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Bristol-Myers Squibb, which currently sits at a price target of $51.
• Reflecting concerns, an analyst from Redburn Atlantic lowers its rating to Neutral with a new price target of $54.

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.