Bullish – BMY $50.57 – Healthcare
The idea presented is the opinion of the Options Action staff and not a recommendation by OptionsPlay.
On Friday’s Options Action, the crew analyzed Bristol Myers stock. After a significant period of underperformance, this stock has started to show strength over the past 2 months. Coupled with improving relative strength and higher highs, BMY is starting to catch up to the healthcare sector. Expecting BMY to trade higher, Michael Khouw suggests buying a Dec 50 Call for $2.50 Debit. As of Friday’s close, these calls were trading at a $2.48 Debit.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: BMY OptionsAction Trade
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