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 9 trades.
If we consider the specifics of each trade, it is accurate to state that 22% of the investors opened trades with bullish expectations and 77% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $465,805 and 4, calls, for a total amount of $190,072.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $60.0 for Bristol-Myers Squibb over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Bristol-Myers Squibb options trades today is 3093.38 with a total volume of 1,911.00.
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 $60.0 over the last 30 days.
Bristol-Myers Squibb Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | SWEEP | BULLISH | 09/20/24 | $55.00 | $143.4K | 372 | 561 |
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $60.00 | $93.5K | 53 | 1 |
| BMY | PUT | SWEEP | BEARISH | 10/18/24 | $52.50 | $91.3K | 88 | 10 |
| BMY | PUT | SWEEP | BEARISH | 09/20/24 | $55.00 | $82.4K | 372 | 207 |
| BMY | CALL | SWEEP | BULLISH | 08/16/24 | $45.00 | $75.3K | 1.3K | 75 |
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.
Following our analysis of the options activities associated with Bristol-Myers Squibb, we pivot to a closer look at the company's own performance.
Current Position of Bristol-Myers Squibb
- With a volume of 7,605,190, the price of BMY is up 0.26% at $53.93.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 45 days.
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.
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