Financial giants have made a conspicuous bullish move on Bristol-Myers Squibb. Our analysis of options history for Bristol-Myers Squibb BMY revealed 10 unusual trades.
Delving into the details, we found 70% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $334,018, and 5 were calls, valued at $267,435.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $55.0 for Bristol-Myers Squibb, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Bristol-Myers Squibb options trades today is 4102.57 with a total volume of 4,898.00.
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 $45.0 to $55.0 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | TRADE | BULLISH | 04/19/24 | $45.00 | $178.5K | 769 | 1.5K |
| BMY | CALL | TRADE | BULLISH | 03/15/24 | $50.00 | $62.6K | 4.1K | 675 |
| BMY | CALL | SWEEP | BULLISH | 03/15/24 | $52.50 | $62.4K | 2.7K | 11 |
| BMY | CALL | SWEEP | BULLISH | 03/15/24 | $50.00 | $58.8K | 4.1K | 384 |
| BMY | CALL | TRADE | BULLISH | 03/15/24 | $50.00 | $53.8K | 4.1K | 210 |
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
- With a volume of 3,604,954, the price of BMY is up 0.1% at $50.89.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 76 days.
Professional Analyst Ratings for Bristol-Myers Squibb
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $55.6.
- An analyst from Goldman Sachs persists with their Buy rating on Bristol-Myers Squibb, maintaining a target price of $69.
- An analyst from Barclays persists with their Equal-Weight rating on Bristol-Myers Squibb, maintaining a target price of $51.
- An analyst from Morgan Stanley has decided to maintain their Underweight rating on Bristol-Myers Squibb, which currently sits at a price target of $50.
- Showing optimism, an analyst from HSBC upgrades its rating to Hold with a revised price target of $53.
- An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $55.
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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