This Is What Whales Are Betting On Bristol-Myers Squibb
Portfolio Pulse from Benzinga Insights
Whales have shown a predominantly bearish stance on Bristol-Myers Squibb (BMY), with options trading data revealing 80% bearish sentiment through puts totaling $525,443 versus calls at $29,800. The targeted price range is between $40.0 to $70.0. BMY's current market position shows a trading volume of 11,739,521, with a price decrease of -2.29%, and an RSI indicating potential oversold status. An earnings announcement is expected in 14 days.
April 11, 2024 | 8:46 pm
News sentiment analysis
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NEGATIVE IMPACT
Whales' bearish bets and the significant volume of put options suggest a negative outlook for BMY's stock in the short term, especially with an earnings announcement on the horizon.
The bearish sentiment among large investors, indicated by the predominance of put options, suggests they anticipate a decline in BMY's stock price. This outlook is reinforced by the current negative price movement and the potential impact of the forthcoming earnings announcement. The high relevance and importance scores reflect the direct impact of these trades on BMY's stock, while the confidence score accounts for the inherent unpredictability of market reactions to earnings reports.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100