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 21 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 38% leaning bullish and 57% bearish. Among these notable options, 8 are puts, totaling $568,664, and 13 are calls, amounting to $926,833.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $55.0 for Bristol-Myers Squibb over the last 3 months.
Volume & Open Interest Development
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 $25.0 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | CALL | SWEEP | BULLISH | 07/19/24 | $1.04 | $1.0 | $1.04 | $41.00 | $199.4K | 1.4K | 2.2K |
| BMY | CALL | SWEEP | BEARISH | 08/16/24 | $2.07 | $2.06 | $2.07 | $40.00 | $139.7K | 1.5K | 713 |
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $6.25 | $6.15 | $6.25 | $46.00 | $136.8K | 1.5K | 1 |
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $4.65 | $4.55 | $4.65 | $44.00 | $133.4K | 2.2K | 21 |
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $4.2 | $4.1 | $4.2 | $43.00 | $125.6K | 3.1K | 300 |
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.
Where Is Bristol-Myers Squibb Standing Right Now?
- With a volume of 5,995,571, the price of BMY is up 0.45% at $40.43.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 56 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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