Deep-pocketed investors have adopted a bearish 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 13 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 30% leaning bullish and 69% bearish. Among these notable options, 2 are puts, totaling $91,401, and 11 are calls, amounting to $376,798.
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 $43.0 to $57.5 for Bristol-Myers Squibb over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bristol-Myers Squibb's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bristol-Myers Squibb's significant trades, within a strike price range of $43.0 to $57.5, over the past month.
Bristol-Myers Squibb Option Activity Analysis: 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 | 08/16/24 | $52.50 | $59.1K | 1.4K | 712 |
| BMY | CALL | SWEEP | BEARISH | 10/18/24 | $57.50 | $47.6K | 156 | 326 |
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $47.00 | $46.6K | 472 | 380 |
| BMY | PUT | SWEEP | BULLISH | 01/16/26 | $43.00 | $44.8K | 66 | 140 |
| BMY | CALL | SWEEP | BEARISH | 08/16/24 | $52.50 | $40.0K | 1.4K | 876 |
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.
Current Position of Bristol-Myers Squibb
- With a volume of 3,739,768, the price of BMY is up 0.34% at $51.77.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 37 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 want to stay updated on the latest options trades for Bristol-Myers Squibb, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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