Busy Day For Bristol Myers Squibb Co. (BMY) Options As Shares Sprint Higher

Waste Management, Inc. (NYSE:WM) – Shares in Waste Management, Inc. (NYSE:WM) are trading at their highest level in more than a decade today, up 1.05% at $41.94 as of midday in New York, and it looks like some traders are positioning for shares to push higher still during the second half of the year. The Oct $42 strike calls are the most actively traded contracts on Waste Management, Inc. (NYSE:WM) as of the time of this writing, with more than 7,500 calls traded versus open interest of 862 contracts. It looks like most of the $42 calls were purchased for an average premium of $1.26 per contract. Traders long the calls make money if shares in WM rally another 3.0% to top an average breakeven price of $43.26 by October expiration.

Caitlin Duffy
Equity Options Analyst

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