Unpacking the Latest Options Trading Trends in Bristol-Myers Squibb

Financial giants have made a conspicuous bearish move on Bristol-Myers Squibb. Our analysis of options history for Bristol-Myers Squibb BMY revealed 12 unusual trades.

Delving into the details, we found 8% of traders were bullish, while 83% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $380,478, and 7 were calls, valued at $466,355.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $60.0 for Bristol-Myers Squibb during the past quarter.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Bristol-Myers Squibb's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Bristol-Myers Squibb's substantial trades, within a strike price spectrum from $45.0 to $60.0 over the preceding 30 days.

Bristol-Myers Squibb 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

Bristol-Myers Squibb's Current Market Status

• Trading volume stands at 5,531,850, with BMY's price up by 0.57%, positioned at $53.06.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 8 days.

What The Experts Say On Bristol-Myers Squibb

In the last month, 5 experts released ratings on this stock with an average target price of $54.4.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Bristol-Myers Squibb with a target price of $59. * An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $56. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $50. * Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Bristol-Myers Squibb with a target price of $53. * An analyst from UBS has decided to maintain their Neutral rating on Bristol-Myers Squibb, which currently sits at a price target of $54.

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.