Bristol-Myers Squibb Options: A Look at What the Big Money Is Thinking – Bristol-Myers Squibb (NYSE:BMY)

Deep-pocketed investors have taken a bearish approach to Bristol-Myers Squibb (NYSE:BMY), and that’s something market players shouldn’t ignore. Our tracking of public options listings at Benzinga revealed this significant move today. The identity of these investors remains unknown, but such a substantial move in BMY usually suggests that something big is about to happen.

We gathered this information from our observations today, when Benzinga’s options scanner highlighted 21 great options activities for Bristol-Myers Squibb. This level of activity is out of the ordinary.

The overall mood among these heavyweight investors is split, with 38% bullish and 57% bullish. Of these notable options, 8 are puts, totaling $568,664, and 13 are calls, totaling $926,833.

Estimated price range

Given the volume and open interest in these contracts, it appears that whales have targeted a price range of $25-$55 for Bristol-Myers Squibb over the past 3 months.

Developing volume and open interest

Looking at 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 options for a given strike price.

Below, we can see the evolution of call and put volume and open interest, respectively, for Bristol-Myers Squibb’s entire whale business over a strike price range of $25.0 to $55.0 in the last 30 days.

Bristol-Myers Squibb 30-Day Option Instant Volume and Interest

Noteworthy Option Activity:

About Bristol-Myers Squibb

Bristol-Myers Squibb discovers, develops and markets medicines for various therapeutic areas such as cardiovascular disorders, cancer and immunity. A key focus for Bristol is immuno-oncology, where the firm is a leader in drug development. Bristol derives almost 70% of its total sales from the US, demonstrating a greater reliance on the US market than most of its peer group.

After a thorough analysis of options trading around Bristol-Myers Squibb, we move on to examine the company in more detail. This includes an assessment of its current market status and performance.

Where is Bristol-Myers Squibb right now?

• On volume of 5,995,571, BMY rose 0.45% to $40.43.
• RSI indicators suggest that the underlying stock may be oversold.
• The next earnings are expected to be published in 56 days.

Options are a riskier asset compared to just trading stocks, but have higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and exiting trades, following more than one indicator, and watching the markets closely.

If you want to stay up-to-date on the latest options trades for Bristol-Myers Squibb, Benzinga Pro provides real-time alerts on options trades.