BMYBristol-Myers Squibb Co.
Options Analysis Report•PHARMACEUTICAL PREPARATIONS
Market Cap $115.9B|NYSE
● 2026-05-15$56.77
BULLISH
Analysis: 2026-05-14 EOD data
1Y +23.9%YTD +6.2%7D +1.1%
Options Vol
8,218
30D
Implied Move
±7.9%
IV Rank
25%
BMY Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
8.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks8/9 checks passed
IV Rank
≤35%IV Rank 24.3% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.02x — IV ≤ HV
Sector Relative≤50%
Sector percentile 14% — below sector median
Term Structure
<1.1xFront/Back 1.00x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 29.0% — normal range
Spread-Adjusted Value
<80%Effective IV 48.0% (ATM 29.0% + spread 9.5% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 13.79% (spread 9.49% + slippage 4.30%) — high friction
Vega Efficiency
≥5.0Vega efficiency 7.37 (vega 6.996 / spread 9.49%) — efficient
Sentiment
Bullish or bearish?
6.9
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +14%, Raw: +21%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +14% (bullish) — Raw: +21%
OI Skew Magnitude
≥15%|OI skew| 9.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +29.4%, OI skew +9.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 12%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -7%, ATM: +6%, OTM: +32% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 34% — bullish vs sector
Activity
Unusual activity?
2.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 1.3% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +3.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 22% — below sector avg
Trade Quality
≥30%Large trade volume 14% — mostly retail
Execution Urgency
≥60%Aggressive execution 51% — patient
Flow Conviction
≥30Conviction +14 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 9.5% — wide
Adequate OI
≥10,000OI 622,341 — deep
Active Volume
≥500Volume 8,218/day — active
Reasonable Cost
≤$0.50$0.47 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 17% — much tighter than sector
Order Book Depth
≥100 contractsDepth 374.8 contracts (bid:209.9 ask:164.9) — adequate
Execution Quality
<1.0%Avg slippage 4.30% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -0.3% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 24% — buyer opportunity
Event Detection
≥10pts kinkIV kink 1.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 238.76 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +14% @ 57% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 44 (ITM 20% + inst 14%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls7.4
bullishIV cheap, bullish flow
Long Puts5.8
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, bullish flow
Covered Call3.6
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.