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Call Options on BMY on 11/27/2015

Bullish Cup and Handle on BMYBristol-Myers Squibb Company (BMY) discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.

It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, including virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.

The company’s products include Baraclude for the treatment of chronic hepatitis B virus infection; Daklinza for the treatment of hepatitis C virus infection; Reyataz and Sustiva for the treatment of HIV; Erbitux, an IgG1 monoclonal antibody that targets and blocks the epidermal growth factor receptor; and Sprycel, a multi-targeted tyrosine kinase inhibitor for the treatment of adults with Philadelphia chromosome-positive chronic myeloid leukemia. Its products also comprise Yervoy, a monoclonal antibody for the treatment of patients with metastatic melanoma; Abilify, an antipsychotic agent for adult patients with schizophrenia, bipolar mania disorder, and major depressive disorder; Orencia for use in treating patients with moderately to severely active rheumatoid arthritis; and Eliquis, an oral factor Xa inhibitor targeted at stroke prevention in atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders.

In addition, it is developing Opdivo, a human monoclonal antibody, which is in Phase III trials for non-small cell lung cancer, renal cell cancer, and melanoma; Beclabuvir, a non-nucleoside NS5B inhibitor that is in Phase III development for the treatment of HCV; Elotuzumab, a humanized monoclonal antibody, which is in Phase III trials for the treatment of multiple myeloma; and BMS-663068, an investigational compound that is being studied in HIV-1. 

Shares have formed a bullish "cup and handle" on several positive developments for the company. Higher share prices are expected for this stock.

52-Weeks Trading Range: $51.82 - $70.54

Last Trade: $68.00

 

We are trading December 18th Options

Trade

  • Buy 1 December $67.50 Call at $1.70
  • For a net debit of $1.70

Profit/Loss Analysis

  • Breakeven at $69.20
  • Maximum profit is unbounded
  • Maximum loss is ($170.00) at strike of $67.00

Closing Summary

  • Sold 1 December $67.50 Call at $2.00

Position closed on 12/18/2015 at price of $2.00 with a 17.65% gain in 21 days.

Updates

12/18/2015 8:59:55 AM

We are closing BMY $67.5 Call options at the open. The contract expires today.

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