Deep-pocketed investors have adopted a bearish approach towards Eli Lilly LLY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LLY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Eli Lilly. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 77% bearish. Among these notable options, 4 are puts, totaling $199,500, and 5 are calls, amounting to $135,987.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $410.0 to $630.0 for Eli Lilly over the recent three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Eli Lilly's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Eli Lilly's significant trades, within a strike price range of $410.0 to $630.0, over the past month.
Eli Lilly 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | PUT | TRADE | NEUTRAL | 01/16/26 | $580.00 | $62.7K | 65 | 10 |
| LLY | PUT | TRADE | BULLISH | 01/16/26 | $580.00 | $62.2K | 65 | 20 |
| LLY | PUT | TRADE | BEARISH | 01/17/25 | $570.00 | $37.5K | 77 | 10 |
| LLY | PUT | TRADE | NEUTRAL | 01/17/25 | $570.00 | $37.0K | 77 | 20 |
| LLY | CALL | TRADE | BEARISH | 02/02/24 | $630.00 | $31.0K | 298 | 42 |
About Eli Lilly
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for diabetes; and Taltz and Olumiant for immunology.
After a thorough review of the options trading surrounding Eli Lilly, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Eli Lilly
- With a volume of 15,399, the price of LLY is up 1.65% at $638.0.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 11 days.
What The Experts Say On Eli Lilly
In the last month, 3 experts released ratings on this stock with an average target price of $670.0.
- An analyst from Wells Fargo persists with their Overweight rating on Eli Lilly, maintaining a target price of $700.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $630.
- An analyst from Barclays has decided to maintain their Overweight rating on Eli Lilly, which currently sits at a price target of $680.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Eli Lilly with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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