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 44% leaning bullish and 22% bearish. Among these notable options, 4 are puts, totaling $138,637, and 5 are calls, amounting to $207,540.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $41.0 and $55.0 for Bristol-Myers Squibb, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Bristol-Myers Squibb stands at 3613.11, with a total volume reaching 1,952.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bristol-Myers Squibb, situated within the strike price corridor from $41.0 to $55.0, throughout the last 30 days.
Bristol-Myers Squibb 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | CALL | SWEEP | BULLISH | 01/17/25 | $5.6 | $5.5 | $5.6 | $45.00 | $56.5K | 7.7K | 104 |
| BMY | CALL | TRADE | BULLISH | 01/16/26 | $9.25 | $9.2 | $9.25 | $43.00 | $46.2K | 6.8K | 60 |
| BMY | CALL | SWEEP | BULLISH | 03/21/25 | $9.25 | $9.1 | $9.2 | $41.00 | $45.9K | 1 | 51 |
| BMY | PUT | TRADE | NEUTRAL | 01/16/26 | $7.75 | $7.65 | $7.7 | $52.50 | $38.5K | 689 | 50 |
| BMY | PUT | SWEEP | BEARISH | 01/17/25 | $1.75 | $1.69 | $1.72 | $45.00 | $38.0K | 7.7K | 265 |
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.
Current Position of Bristol-Myers Squibb
- With a trading volume of 4,688,294, the price of BMY is down by -1.48%, reaching $48.26.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 64 days from now.
What The Experts Say On Bristol-Myers Squibb
3 market experts have recently issued ratings for this stock, with a consensus target price of $46.333333333333336.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Bristol-Myers Squibb with a target price of $53.
- An analyst from Deutsche Bank persists with their Hold rating on Bristol-Myers Squibb, maintaining a target price of $45.
- An analyst from Barclays downgraded its action to Underweight with a price target of $41.
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.
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