Market Whales and Their Recent Bets on BMY Options

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 32 uncommon options trades for Bristol-Myers Squibb.

This isn’t normal.

The overall sentiment of these big-money traders is split between 37% bullish and 46%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $768,961, and 27 are calls, for a total amount of $2,021,345.

What’s The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $70.0 for Bristol-Myers Squibb during the past quarter.

Insights into 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 $25.0 to $70.0 in the last 30 days.

Bristol-Myers Squibb Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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 US, showing a higher dependence on the US 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.

Current Position of Bristol-Myers Squibb

• With a volume of 13,248,550, the price of BMY is up 1.71% at $61.21.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 48 days.

Expert Opinions on Bristol-Myers Squibb

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $62.0.

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* Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Bristol-Myers Squibb with a target price of $62.

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.