SPY400.09-1.63 -0.41%
DIA322.78+0.55 0.17%
IXIC11,662.79-142.21 -1.20%

Bristol-Myers Squibb Whale Trades For April 29

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.

Benzinga · 04/29/2022 12:04

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 11 uncommon options trades for Bristol-Myers Squibb.

This isn't normal.

The overall sentiment of these big-money traders is split between 9% bullish and 90%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $374,469, and 4 are calls, for a total amount of $208,768.

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 $50.0 to $80.0 for Bristol-Myers Squibb over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Bristol-Myers Squibb options trades today is 5011.0 with a total volume of 11,495.00.

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 $50.0 to $80.0 over 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 01/20/23 $60.00 $106.6K 5.6K 4
BMY PUT SWEEP BULLISH 04/29/22 $76.00 $99.8K 5.4K 34
BMY PUT SWEEP BEARISH 05/06/22 $75.00 $79.2K 7.6K 2.0K
BMY PUT SWEEP BEARISH 05/06/22 $75.00 $54.2K 7.6K 531
BMY CALL SWEEP BEARISH 12/16/22 $80.00 $47.1K 644 143

Where Is Bristol-Myers Squibb Standing Right Now?

  • With a volume of 11,684,606, the price of BMY is down -2.98% at $74.9.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 0 days.

What The Experts Say On Bristol-Myers Squibb:

  • Morgan Stanley downgraded its action to Underweight with a price target of $64

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.