Investors with a lot of money to spend have taken a bearish stance on Bristol-Myers Squibb BMY.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BMY, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Bristol-Myers Squibb.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $39,000, and 8, calls, for a total amount of $570,745.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $39.0 to $46.0 for Bristol-Myers Squibb during the past quarter.
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 $39.0 to $46.0 in the last 30 days.
Bristol-Myers Squibb Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | CALL | SWEEP | BULLISH | 11/15/24 | $4.45 | $4.35 | $4.45 | $40.00 | $114.3K | 108 | 0 |
| BMY | CALL | SWEEP | BULLISH | 10/18/24 | $4.0 | $3.95 | $4.0 | $40.00 | $112.4K | 404 | 0 |
| BMY | CALL | SWEEP | BULLISH | 12/20/24 | $3.5 | $3.4 | $3.5 | $42.00 | $103.9K | 855 | 0 |
| BMY | CALL | SWEEP | BULLISH | 10/18/24 | $4.9 | $4.75 | $4.85 | $39.00 | $93.1K | 123 | 0 |
| BMY | CALL | SWEEP | BEARISH | 09/20/24 | $1.73 | $1.68 | $1.68 | $44.00 | $50.4K | 1.9K | 40 |
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.
In light of the recent options history for Bristol-Myers Squibb, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Bristol-Myers Squibb
- Currently trading with a volume of 5,612,231, the BMY's price is down by -0.17%, now at $42.12.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 30 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bristol-Myers Squibb with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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