A whale with a lot of money to spend has taken a noticeably bearish stance on Bristol-Myers Squibb.
Looking at options history for Bristol-Myers Squibb (NYSE:BMY) we detected 24 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $340,013 and 20, calls, for a total amount of $7,401,497.
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 $62.5 to $80.0 for Bristol-Myers Squibb over the last 3 months.
Volume & Open Interest Development
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 $62.5 to $80.0 in the last 30 days.
Bristol-Myers Squibb Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | CALL | SWEEP | BEARISH | 01/20/23 | $62.50 | $1.5M | 35.4K | 11.1K |
| BMY | CALL | TRADE | BEARISH | 01/20/23 | $62.50 | $1.3M | 35.4K | 3.5K |
| BMY | CALL | SWEEP | NEUTRAL | 01/20/23 | $62.50 | $952.0K | 35.4K | 2.0K |
| BMY | CALL | SWEEP | BEARISH | 01/20/23 | $62.50 | $945.5K | 35.4K | 2.0K |
| BMY | CALL | SWEEP | BEARISH | 01/20/23 | $62.50 | $442.4K | 35.4K | 3.5K |
Where Is Bristol-Myers Squibb Standing Right Now?
- With a volume of 9,201,792, the price of BMY is down -1.99% at $76.02.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 7 days.
What The Experts Say On Bristol-Myers Squibb:
- BMO Capital has decided to maintain their Outperform rating on Bristol-Myers Squibb, which currently sits at a price target of $81.
- Morgan Stanley downgraded its action to Underweight with a price target of $64
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.
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