Options · BMY

GEX × Max Pain for BMY

AI-generated plain-English read of gex × max pain for BMY. Updated daily.

Damper regime around $61.48 — moves get absorbed. Magnets are loose, so direction isn't clear; expect chop without a strong external trigger.

What will probably happen

Short-term: dampers absorb moves. Expect range-bound trading until something meaningful breaks the structure.

If you HOLD this stock: No structural action needed. Dampers are protecting you this week.
If you TRADE this stock (no options): No clean directional setup from the structure. Wait for an external trigger (earnings, sector flow, news) before sizing.
If you trade OPTIONS: No edge from the structure alone — premium is fairly priced for the regime. Wait for tighter convergence or a clearer directional setup.

Clear regime, tight convergence, full term structure (14 expirations).

Technical details

Term: Term structure: max-gamma climbs from $57.00 (front) to $62.50 (longest-dated); max-pain holds near $60.00 across the curve; the flip point recedes from spot in longer-dated rows (more damper buffer).
Regime: Net GEX is positive ($1.92M) and spot sits comfortably above the flip point at $45.00 — dealers are net long gamma, hedging activity DAMPENS moves.
Structure: Spot $61.48; front-week magnet at $57.00 (max-gamma) and $60.00 (max-pain).
Convergence: Same-side bias but loose: max-gamma at $57.00, max-pain at $60.00. The magnets agree on direction but disagree on magnitude — directional conviction is weaker than a tight convergence.