This Is What Whales Are Betting On Bristol-Myers Squibb

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 trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 15 uncommon options trades for Bristol-Myers Squibb.

This isn't normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $265,783, and 10 are calls, for a total amount of $657,729.

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 $40.0 to $70.0 for Bristol-Myers Squibb over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $40.0 to $70.0 in the last 30 days.

Bristol-Myers Squibb Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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 US, showing a higher dependence on the US 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.

Present Market Standing of Bristol-Myers Squibb

• Currently trading with a volume of 8,110,986, the BMY's price is up by 1.88%, now at $52.72.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 30 days.

What The Experts Say On Bristol-Myers Squibb

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $50.333333333333336.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from BMO Capital has decided to maintain their Market Perform rating on Bristol-Myers Squibb, which currently sits at a price target of $53. * An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $50. * Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Bristol-Myers Squibb, targeting a price of $48.

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.