Whales with a lot of money to spend have taken a noticeably bullish stance on Bristol-Myers Squibb.
Looking at options history for Bristol-Myers Squibb BMY we detected 23 trades.
If we consider the specifics of each trade, it is accurate to state that 78% of the investors opened trades with bullish expectations and 21% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $2,468,908 and 6, calls, for a total amount of $290,165.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $65.0 for Bristol-Myers Squibb over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bristol-Myers Squibb's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bristol-Myers Squibb's significant trades, within a strike price range of $35.0 to $65.0, over the past month.
Bristol-Myers Squibb Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | SWEEP | BULLISH | 03/15/24 | $60.00 | $819.7K | 2.2K | 2.2K |
| BMY | PUT | SWEEP | BULLISH | 03/15/24 | $60.00 | $237.8K | 2.2K | 914 |
| BMY | PUT | TRADE | BULLISH | 01/17/25 | $43.00 | $217.0K | 1.9K | 1.0K |
| BMY | PUT | SWEEP | BEARISH | 06/21/24 | $55.00 | $159.8K | 4.8K | 299 |
| BMY | PUT | SWEEP | BULLISH | 03/15/24 | $60.00 | $138.6K | 2.2K | 914 |
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.
Present Market Standing of Bristol-Myers Squibb
- Trading volume stands at 7,433,671, with BMY's price down by -0.42%, positioned at $50.1.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 17 days.
Expert Opinions on Bristol-Myers Squibb
2 market experts have recently issued ratings for this stock, with a consensus target price of $64.0.
- Reflecting concerns, an analyst from B of A Securities lowers its rating to Neutral with a new price target of $60.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Bristol-Myers Squibb, targeting a price of $68.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Bristol-Myers Squibb, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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