I think they will do good in their Earnings announcement and it can possibly go higher. But I do think that BMY will dip in a week or two after the announcement. Historically, BMY reaches its lowest point around mid-February for the past 3 years.
Good morning Jess, I did the same thing layering into Feb35Puts over 1-14,1-15,1-16,1-17, and 1-18. I was too early and with a BE of .96, I am upside down 40%. I also hope something happens before Feb 16. On the other hand I have had a good start to the year,with 9 straight day, and overnight trades, all making money trading the momentum of the SPY. ;) But BMY is looking doubtful, we still have some time. Bow
I bought Feb 34 puts a couple of weeks ago. Feb could be cutting it a little fine, but I'm banking on the historic low two days before OPEX. I also thought the debt problem would be having a negative effect, but it seems to be losing steam.