Bristol-Myers Squibb Unusual Options Activity

Whales with a lot of money to spend have taken a noticeably bearish stance on Bristol-Myers Squibb.

Looking at options history for Bristol-Myers Squibb BMY we detected 12 trades.

If we consider the specifics of each trade, it is accurate to state that 8% of the investors opened trades with bullish expectations and 91% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $1,449,329 and 4, calls, for a total amount of $320,025.

Projected Price Targets

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 $67.5 for Bristol-Myers Squibb, spanning the last three months.

Volume & Open Interest Trends

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 $45.0 to $67.5 in the last 30 days.

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

Noteworthy Options Activity:

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.

Having examined the options trading patterns of Bristol-Myers Squibb, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Bristol-Myers Squibb's Current Market Status

• With a volume of 8,990,849, the price of BMY is down -1.74% at $48.9.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 66 days.

Expert Opinions on Bristol-Myers Squibb

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $58.25.

• An analyst from Daiwa Capital downgraded its action to Neutral with a price target of $54.
• An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $55.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $55.
• An analyst from Goldman Sachs persists with their Buy rating on Bristol-Myers Squibb, maintaining a target price of $69.

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.