Deep-pocketed investors have adopted a bullish 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 9 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 44% leaning bullish and 22% bearish. Among these notable options, 4 are puts, totaling $138,637, and 5 are calls, amounting to $207,540.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $41.0 and $55.0 for Bristol-Myers Squibb, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Bristol-Myers Squibb stands at 3613.11, with a total volume reaching 1,952.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bristol-Myers Squibb, situated within the strike price corridor from $41.0 to $55.0, throughout the last 30 days.
Bristol-Myers Squibb 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | CALL | SWEEP | BULLISH | 01/17/25 | $5.6 | $5.5 | $5.6 | $45.00 | $56.5K | 7.7K | 104 |
| BMY | CALL | TRADE | BULLISH | 01/16/26 | $9.25 | $9.2 | $9.25 | $43.00 | $46.2K | 6.8K | 60 |
| BMY | CALL | SWEEP | BULLISH | 03/21/25 | $9.25 | $9.1 | $9.2 | $41.00 | $45.9K | 1 | 51 |
| BMY | PUT | TRADE | NEUTRAL | 01/16/26 | $7.75 | $7.65 | $7.7 | $52.50 | $38.5K | 689 | 50 |
| BMY | PUT | SWEEP | BEARISH | 01/17/25 | $1.75 | $1.69 | $1.72 | $45.00 | $38.0K | 7.7K | 265 |
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.
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 trading volume of 4,688,294, the price of BMY is down by -1.48%, reaching $48.26.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 64 days from now.
What The Experts Say On Bristol-Myers Squibb
3 market experts have recently issued ratings for this stock, with a consensus target price of $46.333333333333336.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on Bristol-Myers Squibb with a target price of $53.
- An analyst from Deutsche Bank persists with their Hold rating on Bristol-Myers Squibb, maintaining a target price of $45.
- An analyst from Barclays downgraded its action to Underweight with a price target 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.
