Bausch Health Companies Inc (BHC) Options

BHC up 6% to 5.48 and BLCO up 9% to 13.89
BHC range 5.14 to 5.48
200 DMA 7.15
50 DMA 6.33
20 DMA 5.35
So we broke and closed above the 20 DMA today. Overall Market has been up the past 3 days so if it keeps going up in a down market into earnings it would be a good sign. We are so far below the old trading ranges I've got no clue what will happen but BHC has had great news with debt refi, Norwich court case and Ichan 34% interest made public. Can't believe it's under 5.50. YIKES!

BHC 5.17
20 DMA 5.34
50 DMA 6.35
200 DMA 7.16
BHC range today was 5.14-5.33 so it got rejected at the 20 DMA. With all the new lately with debt refi, Norwich losing against FDA and Ichan disclosing 34% stake we should BLAST past all the DMA's and get a golden cross a few months down the road. However this is BHC and nothing seems to work out the way you'd think it would with this stock. Next week we've got earnings so lets see how things are going.

So in the last 2 weeks BHC went to low 4's but POPPED over 5 on the Norwich case being ruled in our favor/dismissed and that was one day Then we pulled back the next day. Then the next day BHC back to low 5's off of news that Ichan holds 34% of BHC with 24.6% through equity swaps and the 9.7% he has in direct shares. All of this news and we're in LOW FIVES!!! It's going to be an interesting 2025 to say the least...

Tariff meltdown has BHC at 5.25 now and it broke below 5 yesterday. Would be nice to hear about the debt refi but this stock and BLCO are stuck together. BLCO hit 11.21 yesterday and is 11.66 at the moment. That PE offer of 24 probably sounds good to many right about now but long term these stocks should go up once things settle down. Well that's if agreements are made on tariffs instead of a full on trade war lasting years. Pretty sure BHC/BLCO manufacture in so many places it would be tariff free so I wouldn't doubt someone goes hostile takeover in 2025. Who knows but the masts are stuck togethers and both ships are dragging each other down into the maelstrom. All hands on deck!!!

Gap filled...Went below 6.50 today so the gap up from the last ER has filled. However never know what happens with the debt refi using BLCO shares. I would think stock goes up but with BLCO at 14 today maybe the ships drag both into the abyss...

BHC currently 7.31 and just hit the 50 DMA at 7.33 Been watch my other plays that I forgot to pay attention to this one. lol
BHC days range 7.18-7.33 and had broke below 7 early this week. I was expecting it to fill the gap down to 6.60 or so but this might go after 8.50 in the near term as we didn't even break 8 after the good earnings. Who knows and any debt refi could send BHC flying. Saw Walgreens got bought out and I've seen a few deals happen early in 2025 so maybe we still sell BLCO after the next ER.
200 DMA 7.25
50 DMA 7.33
20 DMA 7.16
BLCO 16.06
It's also possible another 'hit piece' comes out and takes us to 4 again too. lol

BHC 7.70 with 1.5 million shares traded.
200 DMA 7.24
50 DMA 7.37
20 DMA 7.07
BLCO was around 16 most of the day but closed a bit lower.
Both had good ER's and should be going higher but these two ships have their masts stuck together and it's bringing them both down. Debt refi would be HUGE.

Earnings for BLCO and BHC were good but I trimmed my BHC this morning when it broke above then back below the 50DMA
50DMA 7.43
200DMA 7.24
20 DMA 6.89
Yesterday we close 6.51 and so far today the low is 6.96 high 7.49 So a big gap from yesterday so I traded accordingly in case of a pull back but still have 2027 calls that I added to the other day and sold those 'extras' because that's what I do.

Earnings next week and we're in the pattern grove...
BHC 6.37
BLCO 16.10
BHC
200 DMA 7.31
50 DMA 7.62
20 DMA 7.17
So PPS under all the averages so lets get ready to RUMBLE!!!
BHC

BHC currently at 7.91 and hit the 7.97 50 DMA so I'd sell any extras but I hesitated the other day adding the Feb 8's for .28 that we're .43 today...Oh well still holding my 2027 calls I do not trade looking for a resolution to the BHC/BLCO stuff hopefully this year.
200 DMA 7.41
50 DMA 7.97
20 DMA 7.71
Today's trading range...7.73-7.97 Right between the lines and might be getting a massive move in either direction depending on news. WwwEee oh the craziness of it all. lol

EDIT just added some puts after ER just in case...Never did that before but I've seen this dip too many times and the 1,700.00 is worth the risk management.

16 million shares trade in the after hours?!? WTH is THAT!!!
So it's been a month since I posted because we are waiting to find out is we sell/spin or absorb BLCO.
BHC @ 7.47 trading range today was 7.42 - 7.72
200DMA 7.44
50DMA 8.04
20DMA 7.68
I've got NO CLUE why we traded almost 18 million share total today wirh 16 million of that in the AH but LETS GET READY TO RUMBLE!!!
Up or down, I will be ready, willing and able. And here...we...GO.

BHC 7.34 which isn't bad as DOW went down over 1100 with FED cut today. And here we go...

BHC 7.65 closed just below the
200DMA 7.66
50DMA 8.37
TIMBER...to 6.5ish or below IMO

Wow the roller coaster up and downs sure have cooled off until we get a yay nor nay on BLCO sale or BHC refi. Damn I was having so much fun trading this. lol
However...If it keeps trading like this the chart will look like a head and shoulders. Then expect another 'hit piece' to drop before earnings and they play it like July again. Well my 2027 calls will be just fine...I can wait and add 'flippers' when they dippers. lol

BHC @ 8.04
200DMA 7.65
50DMA 7.26
20DMA 8.04
BLCO @ 20.46 reports earnings Wednesday (10/30) before the market opens.
BHC reports earnings after the market close (10/30)
Don't know Which way' We go' but it should be quite a bit Either direction.

BHC @ 8.16
200DMA 7.66
50 DMA 7.00
I keep expecting one last pullback before ER but who knows...

That would be GREAT. My calls are all in 2025 just in case it takes longer. I think ER's for both BHC and BLCO will look good but the chart looks weak heading into the next two weeks. I could see them taking it down close to 6 but that would be a HUGE Inverse Head and Shoulders pattern right before ER and we've got BLCO morning of 30th and BHC after market closes 30th so that's a first. I've got some dry powder in case they try to take it down but a great ER or positive news on BLCO sale or spin with Jefferies refi and we'll be right back up and heading higher. Setting up a future Gold Cross. So a new 52 week high is possible (11.46)
200DMA 7.64
50DMA 6.71 and climbing.
However I expect a pull back before taking off and hopefully leaving single digits behind for good. We shall see.

Transaction to be completed in October.

A beautiful week and I traded accordingly...Wish this happened two weeks earlier cause I had a LOT then. Flipped for freebies and lots of dry powder to see how markets react to the FED. I thought .25 cut but they did .5 so....I don't think that's good but we will wait and see...

BHC 5.87 just below the 20DMA...Says over 9.6 million traded so they might be prepping for another dip down soon. Chart looks like a small gap around 5.50 but usually their 'hit pieces' do a lot more damage than that. Will dry some powder to be ready if it's another big dip...
20 DMA 5.88
200 DMA 7.60
50 DMA 6.41
BLCO @ 16

BHC 5.97 and was over 6 yesterday and today. BLCO 16.24
200DMA 7.61
50DMA 6.43
20 DMA 5.88
Looking good for a slow climb up but I know a 'hit piece' could take it down at any moment. Undervalued but that doesn't mean the market alters that until news...

BHC 5.87
BLCO 16.27
BHC
200 DMA 7.63
50 DMA 6.45
20 DMA 5.85
So this is the first day BHC closed above the 20DMA since the 'BK rumor' that took BHC from over 7.50 to under 4 in the same day with almost 63 MILLION shares traded.
So far away from that Golden Cross but might make a run at those 50 & 200 DMA's but who knows. Could easily get another 'hit piece' taking it right back down off of nothing but rumor. CRAZY

Markets gained back some of the loses those 3 days but it's escalator up, elevator down and BHC is currently stuck under 5.50 and BLCO around 16

Good call on pulling those funds with DOW down -1200 at on point. I think Japan was -12% in our AH's...Buffett selling so much BofA and Apple added to the panic of Manic Monday...

Well this past week has been interesting. BLCO and BHC posted good earnings and both went down after. Overall market was hit hard Thursday DOW -700 at one point and Friday -1000 at one point. So the BEAR is in control and I luckily was in 1/3rd cash after the ER and pulled those funds out of my trading account and are now in the bank. August and September will probably be rough until just before the FED meeting in September where many are expecting rate cuts. We will see...
ALSO the beautiful cup and handle that was forming on BHC got broken with the BK rumor dip to 4 and Fridays dip to 5.10 from 6.10 off of a 3 price target. If we get close to 3, I'll pull that money from the bank and buy a TON...Until then, I've got enough for this year and next. I really wanted to add some of my other plays I sold the past few weeks but it just feels like were going down AT LEAST 10% if not more. DOW's high is 41376 S&P's 5669 Which both hit down 5% from the high on Friday.

BHC 5.99 close with a range of 5.68-6.04 on 5.2 million shares.
200 DMA 7.78
50 DMA 6.74
20 DMA 6.93
Got a long way to go but earnings next week could have us easily break 8 but who knows, lol

Another day way to trade BHC 5.88 close with 5.42-6.01 range on 7.8 million shares.
200DMA 7.79
50DMA 6.77
20DMA 7.02
All 3 DMA's heading down...Chart broken

WOW I got LUCKY that I trimmed the other day because today BHC had a BEAR RAID!!!
Opened and was as high as 7.58 then CRASHES all the way to 3.96 before recovering above 6 and closing at 5.81 on 63 MILLION shares total traded today!!!
200 DMA 7.80
50 DMA 6.79
20 DMA 7.15
All this action off a 'rumor' of prepackaged BK that the company took a few hours to say is not true.
Well I hope the company threw all the cash on hand at it's debt today because they probably got it well below 50% discount. I added and added more once I heard the company reply because under 6 with all the stuff that's gone our way tells me we will probably break 8 soon. Might run to 10 as it does a couple times a year. It was just under two years ago when BHC got taken out down to 4 and was over 8 a few weeks later. Earnings are coming up and if we were at 9 before it I probably would have sold most but under 6 we can miss and still go up.

I looked at the overall market this past week and the action in BHC and traded accordingly. I took some profits in other plays too that POPPED this week and decided to be more than 70% cash. Quite a run the first three days this week and then two days down hard so I traded accordingly as I said but still hold calls for court and next year that currently up more than 50% as I bought them a month ago when we were trading under 6.50. I do think BHC will go higher but I had too many extra's for flipping and we're ina range until we aren't...
BHC 7.60 on 3.6 million shares with a trading range of 7.36-7.62
200DMA 7.82
50DMA 6.79
20DMA 7.22
So 50DMA is now heading up as was the 20DMA already. Just need a good POP over 8 to hold for a bit and the 200DMA can join them, setting up a golden cross at some point down the road. However we can easily test the 20DMA and maybe the 50DMA before earnings. That wouldn't surprise me at all. However a nice slow and steady climb up also would work well. Then pop on a good ER and make a new 52 week high if BLCO shares distribution is mentioned this year. BooYAhhh. lol
BLCO 16.98 close

Today we got a good pull back...
BHC 7.38 on 3.7 million shares with a trading range of 7.26-7.67 and it bounced hard off that 7.26
200DMA 7.82
50DMA 6.78
20DMA 7.18 which I thought we'd touch but maybe tomorrow...
BLCO holding strong at 16.93 with a range of 16.70 to 17.43
Strange when I did the @ it put a name lol wtf?!?

Enjoyed another day at Harbin Hot springs so no cell/internet but a lovely view...
So 1/17/24 BHC closed 7.62 on 2.8 million shares traded with a range of 7.44-7.68
200DMA 7.83
50DMA 6.79
20DMA 7.16
So 50DMA about to turn upwards. Got some time before ER so if we break the 200DMA we could easily test the 20 or 50DMA right after...Trade accordingly. Stairway to heaven but hell is always trying to get that quick bear raid dip. I'll be buying that fast and furious dip if it happens. Court in September and if it goes BHC's way then kiss the single digits GOODBYE...Giddy, Up!
BLCO @Bernard Ng.97...

BHC closed down 7.32 with a trading range of 7.26 - 7.42 on volume of 2 million. So going down as slow as it was going up, so that's good IMO. BLCO 15.84
200DMA 7.83
50DMA 6.80
20DMA 7.07
This climb up could look similar to the November 2023 chart IMO. up slow with a couple red down days and then slowly back up so more. I had some low buys in thinking market would drop but it didn't play out like that. I expect ER and court in September to really get things going and if it goes BHC's way then HERE WE GO...

BHC closed at 7.42 on over 3 million shares traded in the range of 7.38-7.62
200DMA 7.84
50DMA 6.83
20DMA 7.04
I still think we could test one or both of those lower DMA's before testing the higher 200DMA but who knows.
BLCO 15.94 close but went over 16 for a bit today. (16.11 high)
Might be in the 7-7.5 pattern before the 7-8/8.5 one.

VOLUME!!! Over 9 million traded but more than a 3rd of that was before the market opened so don't know what that was but a good day none the less.
BHC 7.55 with a range of 7.35 - 7.57 with 9 million volume as mentioned already.
200DMA 7.84
50 DMA 6.86
20 DMA 7.00
BLCO 15.90 close

Also the price target from Raymond James is 13 according to Charles Schwab. MT Newswire said 19 yesterday but today I can't find that. So I was wrong. Chart keeps marching on up into earnings which will be released 8/1/24 before the market opens. BooYAHHH!!!

I expected a down day but the 19 price target from Raymond James probably helped get BHC moving up after a quick dip to 7.07 at the open to a high of 7.38 on 2 million shares. with BHC closing @ 7.32
200 DMA 7.84
50 DMA 6.88
20 DMA 6.94
BLCO closed @ 15.47

So BHC went lower then higher than yesterday. Looks like an Inverted Head and Shoulders forming and possibly a Cup and Handle if we get back up to 9. BHC likes it's trading ranges but the court POP has me thinking it's time to stop trading and keep my core. However we could just as easily trade in the 7-7.5 range until the next leg up. The 200DMA will probably break before earnings but get tested shortly after breaking it as 8.10 was ceiling before if I recall. As was 22.50 a floor back in the day. lol

BHC 7.19 trading range of 7.12 - 7. 36 on 2.33 million shares
200 DMA 7.85
50 DMA 6.91
20 DMA 6.90
So those last two will cross with 20 heading up and 50 still heading down.

Had internet issues Monday but BHC closed 7.29 with a high of 7.42 and I can't remember the low but I'm thinking 7.20 with 2.75 million traded. So far Tuesday it's hit 7.12 and 7.20 currently with BLCO up the past few days currently 15.32

Friday after the 4th of July BHC closed at 7.23 with a range of 6.99 - 7.27 and 2.6 million shares traded...
200DMA 7.86
50DMA 6.97
20DMA 6,83
Really nice trading range and 50DMA should start heading up soon. I expect a couple days red (after 6 black days) but the way it's going it's just slowly climbing the stairs up.

Today was a shortened trading day with tomorrow being closed for the 4th of July...
BHC closed @ 7.15
and the range was 7.08 - 7,18
200DMA 7.86
50DMA 6.99
20DMA 6.78
Volume was 1.2 million and yesterday 1.6 if I recall so not bad having 1.2 with 3 less hours of trading.

Just over 5 months later and getting court ruling in our favor...
BHC 7.11
BHC 14.69
However BHC did make a new 52 week high the past 5 months to 11.46 around the time of the court ruling but went as low as 6.05 before heading back up now...Choo choo

Less than 5 months later and BHC is more than half below BLCO shares. Early this year it was trading like shares were coming. Been trading at a massive discount the past 6 weeks. Today BHC 7.11 and BLCO 14.66

Looks like I made a mistake yesterday as BHC closed today @7.11 up .02 so I missed that 7.09 close yesterday and thought it was 7.11
Range was 6.95-7.14 so each day creeping just a tad higher and that's all good.
200DMA 7.87
50DMA 7.02
20DMA 6.74
So the top two DMA's are still heading down but the 20DMA is heading up so hopefully if there's any dip in the coming few days/weeks it will be a good support. Tomorrow the market closes early and is closed on the 4th so Friday will be interesting if any major events happen before next week. I traded accordingly but still got some extras if this thing takes off. WWWwwweeeEeeEEEeee

Another good day in BHC with a 7.11 close.
Range was 6.93-7.12 On 2.5 million traded...
200DMA 7.88
50DMA 7.05
20DMA 6.71
So I traded accordingly with about 40% of the calls I had. Got out of all the calls I had before the next ER and might add some back if we pull back under 7 this short trading week...
I just think it will break below the 50DMA at some point in the next two weeks especially if it gets stuck between 7.20-7.60 Nothing wrong with taking some profits and I've still got my core and extras for next year just in case we keep going.

Got to love 'checking out' and not having a cell for a day. The 'view' was also excellent.
So to end this week BHC closed @ 6.97 on 3.25 million traded.
Range was 6.86 - 7.00
200DMA 7.89
50DMA 7.08
20DMA 6.67
Probably get resistance at the 50DMA but if a dip happens the 20DMA might be the support. Staying above 8 will be hard with the 200DMA below that. Will need news to make a sustained rally. BLCO showed some weakness going from 14.91 down to 14.41 but if BHC is getting 80% of the shares then BHC is still extremely undervalued.

Was driving to the hot springs yesterday so only got a screen shot of the day's trading.
BHC 6.89 close with 2.12 million traded.
Range was 6.68-6.91 so a little lower and higher from the day before.

Today BHC closed at 6.79 on 2.9 million shares
Today's range 6.70-6.88
200DMA 7.90
50DMA 7.15
20DMA 6.61
Was right about it being red today but the range was higher which might be setting up a test to the 50 and maybe 200DMA's in the near future.

Today BHC closed at 6.80 on 2.6 million shares traded.
Today's range was 6.60-6.83
200DMA 7.91
50DMA 7.19
20DMA 6.59
It tried to end the day green but just couldn't do it and closed in the red. Was a really good bounce off the low just above the 20DMA. Probably a red day tomorrow but will be interesting to see how it all plays out overall...

I forgot to post yesterday. lol
BHC 6.83 close and I think 6.72-6.92 range with less than 2 million volume.
200DMA 7.92
50DMA 7.23
20 DMA 6.57
Was a slightly up day and not a red candle on chart so holding up better than I thought.

Up 1% to 6.80 with today's range 6.66 to 6.83 in the final seconds with 3.9 million in volume.
200DMA 7.93
50DMA 7.27
20DMA 6.53
I thought we'd hit that 20DMA today but after 5 up days and it barely going higher by a penny in the final seconds I'm not sure we don't have a day or two pull back. Not that far, probably 6.45-6.55. Just a little coil before taking out the 50DMA next week. We shall see...

Here we go...
BHC up 4% to close at 6.73 with today's range 6.36 - 6.82 with 3.5 million volume
200DMA 7.93
50DMA 7.31
20DMA 6.51
So the 20DMA is now heading up and tomorrow I think we get close to the 50DMA for a 5th up day...Then maybe a pull back over a couple days holding 6.45 then off to the 200DMA setting up a Golden Cross in a few weeks.months hopefully right around earnings.
So far so good and still looks oversold but things are pointing up now.