Bristol Myers (BMY) Offering Possible 38.12% Return Over the Next 10 Calendar Days

Bristol Myers's most recent trend suggests a bearish bias. One trading opportunity on Bristol Myers is a Bear Call Spread using a strike $61.00 short call and a strike $66.00 long call offers a potential 38.12% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $61.00 by expiration. The full premium credit of $1.38 would be kept by the premium seller. The risk of $3.62 would be incurred if the stock rose above the $66.00 long call strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Bristol Myers is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Bristol Myers is bearish.

The RSI indicator is at 28.49 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Bristol Myers

Why Is Bristol-Myers (BMY) Down 10.1% Since Last Earnings Report?
Sat, 07 Mar 2020 16:30:04 +0000
Bristol-Myers (BMY) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Coronavirus Outbreak Could Disrupt Drug Companies’ Clinical Trials
Sat, 07 Mar 2020 15:31:00 +0000
It could develop into a serious long-term problem for the pharmaceutical industry, which relies on clinical trials to get new drugs to the market.

Bristol-Myers Squibb (BMY) Stock Moves -1.59%: What You Should Know
Thu, 05 Mar 2020 22:45:10 +0000
Bristol-Myers Squibb (BMY) closed at $60.50 in the latest trading session, marking a -1.59% move from the prior day.

Biopharma Could Outperform Volatile Market, Analyst Says
Thu, 05 Mar 2020 17:27:00 +0000
Take a look at biopharma, Bank of America analyst Geoff Meacham argues in a new note out Thursday. “Despite market volatility from [coronavirus], we expect limited impact on biopharma fundamentals,” Meacham wrote. Meacham played down the excitement over possible treatments and vaccines for Covid-19, saying that they remain months, or even a year, away.

Bristol-Myers Named a Bank of America Top Pick Amid Coronavirus Fallout
Thu, 05 Mar 2020 13:30:00 +0000
Bristol-Myers Squibb is tapped a Bank of America top pick amid coronavirus fallout. The New York pharma giant has a buy rating and $75 price target.

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