Bristol Myers (BMY) Offering Possible 8.7% Return Over the Next 29 Calendar Days

Bristol Myers's most recent trend suggests a bullish bias. One trading opportunity on Bristol Myers is a Bull Put Spread using a strike $60.00 short put and a strike $55.00 long put offers a potential 8.7% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $60.00 by expiration. The full premium credit of $0.40 would be kept by the premium seller. The risk of $4.60 would be incurred if the stock dropped below the $55.00 long put strike price.

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

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

The RSI indicator is at 75.46 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

Latest Innovent Deal Gives Eli Lilly Drug Rights Outside China
Tue, 18 Aug 2020 22:40:26 +0000
Agreement boosts company's position in mainstay treatment for cancer Continue reading…

Bristol Myers & Dragonfly Team Up for Immunotherapy Program
Tue, 18 Aug 2020 21:04:09 +0000
Bristol Myers (BMY) collaborates with Dragonfly Therapeutics, Inc. for its experimental immunotherapy program.

David Rolfe's Top 5 2nd-Quarter Trades
Tue, 18 Aug 2020 17:53:47 +0000
Guru adds to Edwards Lifesciences, trims Nvidia and Apple Continue reading…

Bristol-myers Squibb Company (BMY) EVP, General Counsel Sandra Leung Sold $8.9 million of Shares
Mon, 17 Aug 2020 22:15:12 +0000
EVP, General Counsel of Bristol-myers Squibb Company (30-Year Financial, Insider Trades) Sandra Leung (insider trades) sold 141,420 shares of BMY on 08/13/2020 at an average price of $63.24 a share. Continue reading…

3 New Drug Launches of 2020 — and the Stocks That Could Win Big
Mon, 17 Aug 2020 12:33:00 +0000
Sales of these recently launched products could make a big difference for the companies behind them.

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