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 $258,918, and 6 are calls, amounting to $619,491.
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 $40.0 to $50.0 for Bristol-Myers Squibb during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Bristol-Myers Squibb options trades today is 4983.38 with a total volume of 4,097.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Bristol-Myers Squibb's big money trades within a strike price range of $40.0 to $50.0 over the last 30 days.
Bristol-Myers Squibb Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | CALL | SWEEP | BULLISH | 12/20/24 | $7.45 | $7.35 | $7.45 | $41.00 | $157.9K | 716 | 300 |
| BMY | CALL | SWEEP | BULLISH | 12/20/24 | $5.35 | $5.25 | $5.35 | $44.00 | $135.8K | 1.5K | 1 |
| BMY | CALL | SWEEP | BEARISH | 11/15/24 | $1.94 | $1.65 | $1.65 | $50.00 | $132.0K | 4.2K | 807 |
| BMY | PUT | SWEEP | BULLISH | 01/17/25 | $1.16 | $1.06 | $1.06 | $40.00 | $106.0K | 20.6K | 2.0K |
| BMY | CALL | SWEEP | BULLISH | 12/20/24 | $4.05 | $3.95 | $4.05 | $46.00 | $100.4K | 498 | 249 |
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
- Currently trading with a volume of 8,114,682, the BMY's price is up by 0.36%, now at $47.02.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 76 days.
What The Experts Say On Bristol-Myers Squibb
In the last month, 3 experts released ratings on this stock with an average target price of $43.666666666666664.
- In a cautious move, an analyst from Barclays downgraded its rating to Underweight, setting a price target of $41.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $45.
- An analyst from Deutsche Bank persists with their Hold rating on Bristol-Myers Squibb, maintaining a target price of $45.
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.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
