A whale with a lot of money to spend has taken a remarkably bearish stance on Bristol-Myers Squibb.
Looking at the option history for Bristol-Myers Squibb BMY We detected 19 strange trades.
If we consider the details of each trade, it is correct to state that 31% of investors opened trades with bullish expectations and 68% with bearish expectations.
Of the total operations detected, 9 are puts, for a total amount of $1,498,560, and 10, calls, for a total amount of $723,975.
What is the target price?
Given the volume and open interest of these contracts, it appears that the whales have been targeting a price range of $65.0 to $80.0 for Bristol-Myers Squibb over the last 3 months.
Volume development and open interest
Watching volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest of Bristol-Myers Squibb options for a given strike price. Below, we can look at the evolution of call and put volume and open interest, respectively, for all Bristol-Myers Squibb whale trades within a strike price range of $65.0 to $80.0 over the past 30 days.
Bristol-Myers Squibb option volume and open interest in the last 30 days
Largest Options Detected:
| Symbol | SET/FALL | type of trade | Feeling | Exp. Date | exercise price | full trade price | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | SWEEP | BULLISH | 06/16/23 | $80.00 | $893.9K | 2.8K | 604 |
| BMY | CALL | SWEEP | BEARISH | 01/19/24 | $70.00 | $291.3K | 3.0K | 916 |
| BMY | PUT | SWEEP | BULLISH | 06/16/23 | $80.00 | $135.6K | 2.8K | 338 |
| BMY | CALL | SWEEP | BEARISH | 01/19/24 | $70.00 | $111.6K | 3.0K | 992 |
| BMY | PUT | TRADE | NEUTRAL | 06/16/23 | $80.00 | $89.2K | 2.8K | 526 |
| Symbol | SET/FALL | type of trade | Feeling | Exp. Date | exercise price | full trade price | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BMY | PUT | SWEEP | BULLISH | 06/16/23 | $80.00 | $893.9K | 2.8K | 604 |
| BMY | CALL | SWEEP | BEARISH | 01/19/24 | $70.00 | $291.3K | 3.0K | 916 |
| BMY | PUT | SWEEP | BULLISH | 06/16/23 | $80.00 | $135.6K | 2.8K | 338 |
| BMY | CALL | SWEEP | BEARISH | 01/19/24 | $70.00 | $111.6K | 3.0K | 992 |
| BMY | PUT | TRADE | NEUTRAL | 06/16/23 | $80.00 | $89.2K | 2.8K | 526 |
Where is Bristol-Myers Squibb located right now?
- With volume of 3,392,386, the price of BMY rose 1.48% to $69.21.
- RSI indicators hint that the underlying stock may be approaching overbought.
- The next earnings are expected to be released in 27 days.
What the experts are saying about Bristol-Myers Squibb:
- Jefferies downgraded its stock to Hold with a $62 price target
Options are a riskier asset compared to stock trading, but they have a 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 closely following the markets.
If you want to stay up to date on the latest option transactions for Bristol-Myers Squibb, Benzinga Pro provides you with real-time option transaction alerts.