The options market shows a bearish sentiment with 50% of traders bearish and only 40% bullish. The focus on a price range of $160 to $250 suggests expectations of price movement within this band. The current stock price is $203.02, slightly up, but the UBS analyst's Sell rating with a target of $145 indicates a negative outlook. These factors combined suggest a likely short-term downward pressure on IBM's stock price.