Investors with a lot of money to spend have taken a bearish stance on Eli Lilly and Co 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 12 uncommon options trades for Eli Lilly and Co.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 83%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $100,150, and 9 are calls, for a total amount of $838,448.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $640.0 to $830.0 for Eli Lilly and Co over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Eli Lilly and Co's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Eli Lilly and Co's whale activity within a strike price range from $640.0 to $830.0 in the last 30 days.
Eli Lilly and Co Option Volume And Open Interest Over 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 | 01/17/25 | $640.00 | $360.0K | 631 | 20 |
| LLY | CALL | TRADE | BEARISH | 05/17/24 | $830.00 | $94.7K | 158 | 50 |
| LLY | CALL | TRADE | BEARISH | 05/17/24 | $830.00 | $90.6K | 158 | 51 |
| LLY | CALL | TRADE | BEARISH | 04/05/24 | $790.00 | $70.7K | 107 | 77 |
| LLY | CALL | SWEEP | BEARISH | 03/22/24 | $755.00 | $70.2K | 263 | 0 |
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.
In light of the recent options history for Eli Lilly and Co, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Eli Lilly and Co
- Currently trading with a volume of 147,812, the LLY's price is down by -0.64%, now at $767.81.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 41 days.
Professional Analyst Ratings for Eli Lilly and Co
In the last month, 4 experts released ratings on this stock with an average target price of $871.25.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $815.
- An analyst from B of A Securities persists with their Buy rating on Eli Lilly and Co, maintaining a target price of $1000.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Eli Lilly and Co, which currently sits at a price target of $850.
- An analyst from DZ Bank downgraded its action to Hold with 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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