Deep-pocketed investors have adopted a bullish approach towards Eli Lilly and Co 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 10 extraordinary options activities for Eli Lilly and Co. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 10% bearish. Among these notable options, 2 are puts, totaling $99,275, and 8 are calls, amounting to $327,058.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $430.0 and $1000.0 for Eli Lilly and Co, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $430.0 to $1000.0 in the last 30 days.
Eli Lilly and Co 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | PUT | TRADE | BULLISH | 12/18/26 | $80.0 | $73.2 | $73.2 | $750.00 | $73.2K | 59 | 0 |
| LLY | CALL | TRADE | BEARISH | 06/21/24 | $133.5 | $130.6 | $130.6 | $750.00 | $65.3K | 874 | 0 |
| LLY | CALL | TRADE | BULLISH | 09/20/24 | $60.0 | $59.3 | $60.0 | $870.00 | $60.0K | 317 | 0 |
| LLY | CALL | TRADE | BULLISH | 01/17/25 | $467.95 | $460.65 | $465.0 | $430.00 | $46.5K | 602 | 0 |
| LLY | CALL | TRADE | BULLISH | 08/16/24 | $129.6 | $123.2 | $127.82 | $770.00 | $38.3K | 200 | 3 |
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.
Eli Lilly and Co's Current Market Status
- Currently trading with a volume of 65,069, the LLY's price is down by -0.18%, now at $876.87.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 50 days.
Professional Analyst Ratings for Eli Lilly and Co
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $909.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $885.
- Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Eli Lilly and Co with a target price of $957.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $885.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Eli Lilly and Co options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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