What the Options Market Tells Us About Bristol-Myers Squibb
Deep-pocketed investors have adopted a bearish approach towards Bristol-Myers Squibb (NYSE:BMY), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BMY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 28 extraordinary options activities for Bristol-Myers Squibb. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 60% bearish. Among these notable options, 2 are puts, totaling $78,250, and 26 are calls, amounting to $2,153,022.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $50.0 for Bristol-Myers Squibb during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $30.0 to $50.0 in the last 30 days.
Bristol-Myers Squibb Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | CALL | TRADE | BULLISH | 06/20/25 | $7.15 | $6.85 | $7.1 | $40.00 | $852.0K | 747 | 42 |
| BMY | CALL | SWEEP | BEARISH | 08/16/24 | $1.45 | $1.42 | $1.43 | $44.00 | $248.8K | 2.8K | 774 |
| BMY | CALL | SWEEP | BEARISH | 08/02/24 | $2.98 | $2.9 | $2.9 | $41.00 | $116.0K | 515 | 34 |
| BMY | CALL | SWEEP | BULLISH | 08/16/24 | $1.42 | $1.39 | $1.42 | $44.00 | $108.2K | 2.8K | 12 |
| BMY | CALL | TRADE | BULLISH | 07/26/24 | $0.45 | $0.42 | $0.45 | $46.00 | $67.5K | 510 | 207 |
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
Current Position of Bristol-Myers Squibb
- Currently trading with a volume of 14,236,612, the BMY's price is down by -1.58%, now at $42.47.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 8 days.
What The Experts Say On Bristol-Myers Squibb
In the last month, 1 experts released ratings on this stock with an average target price of $41.0.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Bristol-Myers Squibb, targeting a price of $41.
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.