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 9 uncommon options trades for Bristol-Myers Squibb.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $129,380, and 7 are calls, for a total amount of $272,201.
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 $40.0 to $62.5 for Bristol-Myers Squibb over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Bristol-Myers Squibb stands at 4792.14, with a total volume reaching 12,198.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bristol-Myers Squibb, situated within the strike price corridor from $40.0 to $62.5, throughout the last 30 days.
Bristol-Myers Squibb Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | TRADE | BEARISH | 01/16/26 | $55.00 | $68.8K | 276 | 80 |
| BMY | PUT | SWEEP | BULLISH | 06/21/24 | $62.50 | $60.5K | 1.5K | 0 |
| BMY | CALL | SWEEP | BEARISH | 04/19/24 | $55.00 | $48.2K | 15.9K | 1.2K |
| BMY | CALL | TRADE | BEARISH | 03/15/24 | $52.50 | $47.7K | 12.6K | 1.6K |
| BMY | CALL | SWEEP | BEARISH | 03/15/24 | $53.00 | $41.7K | 929 | 1.2K |
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.
Present Market Standing of Bristol-Myers Squibb
- Trading volume stands at 5,829,565, with BMY's price down by -0.41%, positioned at $50.7.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 63 days.
What The Experts Say On Bristol-Myers Squibb
In the last month, 2 experts released ratings on this stock with an average target price of $52.5.
- In a cautious move, an analyst from Redburn Atlantic downgraded its rating to Neutral, setting a price target of $54.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Bristol-Myers Squibb with a target price of $51.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bristol-Myers Squibb options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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