Check Out What Whales Are Doing With BMY

Author: Benzinga Insights | August 16, 2024 01:16pm

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 11 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 54% leaning bullish and 45% bearish. Among these notable options, 7 are puts, totaling $557,127, and 4 are calls, amounting to $436,410.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $38.0 to $55.0 for Bristol-Myers Squibb over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Bristol-Myers Squibb's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Bristol-Myers Squibb's significant trades, within a strike price range of $38.0 to $55.0, over the past month.

Bristol-Myers Squibb 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
BMY	CALL	TRADE	BULLISH	08/16/24	$2.0	$1.92	$2.0	$48.00	$200.0K	4.4K	2.1K
BMY	PUT	TRADE	BULLISH	05/16/25	$1.28	$0.76	$0.95	$38.00	$190.0K	3.0K	2.0K
BMY	CALL	TRADE	BULLISH	08/16/24	$1.7	$1.64	$1.7	$48.00	$170.0K	4.4K	1.1K
BMY	PUT	TRADE	BEARISH	06/20/25	$2.77	$2.29	$2.75	$45.00	$82.5K	5.6K	340
BMY	PUT	SWEEP	BEARISH	06/20/25	$4.6	$4.55	$4.6	$50.00	$81.4K	978	228

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.

Bristol-Myers Squibb's Current Market Status

• With a volume of 8,349,669, the price of BMY is up 0.38% at $49.3.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 69 days.

What Analysts Are Saying About Bristol-Myers Squibb

In the last month, 4 experts released ratings on this stock with an average target price of $46.0.

• Reflecting concerns, an analyst from Barclays lowers its rating to Underweight with a new price target of $41.
• An analyst from Deutsche Bank has decided to maintain their Hold rating on Bristol-Myers Squibb, which currently sits at a price target of $45.
• An analyst from TD Cowen persists with their Hold rating on Bristol-Myers Squibb, maintaining a target price of $53.
• An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $45.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bristol-Myers Squibb with Benzinga Pro for real-time alerts.

Posted In: BMY