This trade appears to be a straight call buyer or buyers that think BMY is in a position to rally through the next quarter.?
Bristol-Myers Squib Co., trading 62.77 (down .91) with an IV30 of 24.05 and IV10 of 19.05, saw a call buyer today.? A customer bought, electronically, the June 67.5 calls sweeping offer then buying a large block of calls for 1.57.? The stock with an ADV of 12,400 and OI of 215,500 contracts has seen a total of 14,000 plus of these trade on the day with additional paper buying the June 70 calls
These appear to be a straight call buyer or buyers that think BMY is in a position to rally through the next quarter.? The trade does well if BMY can rally above 69.00 a share.
This trade should be considered aggressively bullish both the underlying and volatility.