What Are Whales Doing With Bristol-Myers Squibb

Author: Benzinga Insights | August 19, 2022 05:54pm

Someone with a lot of money to spend has taken a bearish stance on Bristol-Myers Squibb (NYSE:BMY).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with BMY, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Bristol-Myers Squibb.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $125,158, and 6 are calls, for a total amount of $482,141.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $77.5 for Bristol-Myers Squibb over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Bristol-Myers Squibb's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Bristol-Myers Squibb's whale trades within a strike price range from $70.0 to $77.5 in the last 30 days.

Bristol-Myers Squibb Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
BMY	CALL	TRADE	NEUTRAL	11/18/22	$77.50	$265.2K	1.6K	1.2K
BMY	CALL	SWEEP	BULLISH	09/09/22	$77.00	$55.7K	78	753
BMY	CALL	TRADE	BULLISH	09/16/22	$70.00	$55.0K	1.6K	104
BMY	CALL	TRADE	BEARISH	03/17/23	$75.00	$53.5K	498	101
BMY	PUT	SWEEP	BEARISH	09/02/22	$74.00	$37.5K	804	508

Where Is Bristol-Myers Squibb Standing Right Now?

With a volume of 7,867,658, the price of BMY is up 1.54% at $75.3.
RSI indicators hint that the underlying stock may be approaching overbought.
Next earnings are expected to be released in 68 days.

What The Experts Say On Bristol-Myers Squibb:

Atlantic Equities has decided to maintain their Overweight rating on Bristol-Myers Squibb, which currently sits at a price target of $83.
UBS has decided to maintain their Neutral rating on Bristol-Myers Squibb, which currently sits at a price target of $75.
Morgan Stanley has decided to maintain their Underweight rating on Bristol-Myers Squibb, which currently sits at a price target of $61.

Options are a riskier asset compared to just trading the stock, but they have 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 following the markets closely.

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

Posted In: BMY