Whales with a lot of money to spend have taken a noticeably bearish stance on Eli Lilly and Co.
Looking at options history for Eli Lilly and Co LLY we detected 128 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 44 are puts, for a total amount of $2,883,996 and 84, calls, for a total amount of $6,058,304.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $390.0 to $1080.0 for Eli Lilly and Co over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Eli Lilly and Co stands at 414.68, with a total volume reaching 11,046.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Eli Lilly and Co, situated within the strike price corridor from $390.0 to $1080.0, throughout the last 30 days.
Eli Lilly and Co Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | CALL | TRADE | NEUTRAL | 08/16/24 | $770.00 | $549.0K | 0 | 107 |
| LLY | CALL | TRADE | BEARISH | 05/17/24 | $770.00 | $307.0K | 323 | 619 |
| LLY | CALL | TRADE | BEARISH | 05/17/24 | $770.00 | $295.0K | 323 | 403 |
| LLY | CALL | TRADE | BEARISH | 01/17/25 | $750.00 | $185.4K | 513 | 27 |
| LLY | CALL | TRADE | BULLISH | 06/21/24 | $600.00 | $148.0K | 506 | 24 |
About Eli Lilly and Co
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.
Following our analysis of the options activities associated with Eli Lilly and Co, we pivot to a closer look at the company's own performance.
Where Is Eli Lilly and Co Standing Right Now?
- With a volume of 2,903,157, the price of LLY is down -1.33% at $752.0.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 45 days.
What Analysts Are Saying About Eli Lilly and Co
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $880.0.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Eli Lilly and Co, targeting a price of $950.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Eli Lilly and Co with a target price of $1000.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $815.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $815.
- In a cautious move, an analyst from DZ Bank downgraded its rating to Hold, setting a price target of $820.
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 and Co with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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