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 66% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $258,918, and 6 are calls, amounting to $619,491.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $50.0 for Bristol-Myers Squibb during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Bristol-Myers Squibb options trades today is 4983.38 with a total volume of 4,097.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Bristol-Myers Squibb's big money trades within a strike price range of $40.0 to $50.0 over the last 30 days.
Bristol-Myers Squibb Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMY | CALL | SWEEP | BULLISH | 12/20/24 | $7.45 | $7.35 | $7.45 | $41.00 | $157.9K | 716 | 300 |
| BMY | CALL | SWEEP | BULLISH | 12/20/24 | $5.35 | $5.25 | $5.35 | $44.00 | $135.8K | 1.5K | 1 |
| BMY | CALL | SWEEP | BEARISH | 11/15/24 | $1.94 | $1.65 | $1.65 | $50.00 | $132.0K | 4.2K | 807 |
| BMY | PUT | SWEEP | BULLISH | 01/17/25 | $1.16 | $1.06 | $1.06 | $40.00 | $106.0K | 20.6K | 2.0K |
| BMY | CALL | SWEEP | BULLISH | 12/20/24 | $4.05 | $3.95 | $4.05 | $46.00 | $100.4K | 498 | 249 |
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.
Following our analysis of the options activities associated with Bristol-Myers Squibb, we pivot to a closer look at the company's own performance.
Current Position of Bristol-Myers Squibb
- Currently trading with a volume of 8,114,682, the BMY's price is up by 0.36%, now at $47.02.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 76 days.
What The Experts Say On Bristol-Myers Squibb
In the last month, 3 experts released ratings on this stock with an average target price of $43.666666666666664.
- In a cautious move, an analyst from Barclays downgraded its rating to Underweight, setting a price target of $41.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $45.
- An analyst from Deutsche Bank persists with their Hold rating on Bristol-Myers Squibb, maintaining a target price of $45.
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.