EARN25

Bristol-Myers Jumps on Billion-Dollar Buzz

Call traders are eyeing BMY after the news

Deputy Editor
Dec 22, 2023 at 11:07 AM
facebook X logo linkedin


Bristol-Myers Squibb Co (NYSE:BMY) stock is on the rise today, up 2.8% at $52.71 at last glance, after news that the biopharmaceutical company is acquiring Karuna (KRTX) for $14 billion. The deal, which will strengthen Bristol-Myers' neuroscience portfolio, is expected to close in the first half of 2024. KRTX is soaring after the news, up about 47%. 

Since the start of the year, BMY is down around 26%, recently hitting a Nov. 30 two-year low of $48.25, its lowest point since the start of Covid. The stock has been on the rise since then, however, on track for its fourth-straight week of gains. 

Call traders are blasting Bristol-Myers stock in response to today's events. So far, 20,000 calls have been exchanged, which is three times the amount typically seen at this point. The weekly 12/29 52-strike call is the most popular contract by far, where options are being sold-to-open. 

 

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!