Investors with a lot of money to spend have taken a bearish stance on Eli Lilly LLY.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LLY, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $133,201, and 11 are calls, for a total amount of $548,139.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $610.0 to $900.0 for Eli Lilly during the past quarter.
Volume & Open Interest Trends
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 $610.0 to $900.0, over the past month.
Eli Lilly Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | PUT | SWEEP | BEARISH | 03/01/24 | $730.00 | $90.0K | 509 | 102 |
| LLY | CALL | TRADE | BULLISH | 01/17/25 | $780.00 | $84.3K | 3.2K | 24 |
| LLY | CALL | TRADE | BEARISH | 07/19/24 | $690.00 | $74.8K | 26 | 21 |
| LLY | CALL | TRADE | BEARISH | 01/16/26 | $750.00 | $73.5K | 93 | 1 |
| LLY | CALL | SWEEP | BULLISH | 04/19/24 | $900.00 | $65.5K | 2.2K | 60 |
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.
Eli Lilly's Current Market Status
- Currently trading with a volume of 535,710, the LLY's price is down by -1.57%, now at $743.82.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 64 days.
What Analysts Are Saying About Eli Lilly
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $772.0.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Eli Lilly with a target price of $815.
- An analyst from Truist Securities persists with their Buy rating on Eli Lilly, maintaining a target price of $850.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $630.
- An analyst from BMO Capital persists with their Outperform rating on Eli Lilly, maintaining a target price of $865.
- An analyst from Wells Fargo persists with their Overweight rating on Eli Lilly, maintaining a target price of $700.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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