Deep-pocketed investors have adopted a bearish 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 30 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 33% leaning bullish and 46% bearish. Among these notable options, 4 are puts, totaling $304,322, and 26 are calls, amounting to $3,313,701.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $400.0 and $1080.0 for Eli Lilly and Co, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Eli Lilly and Co stands at 379.43, with a total volume reaching 283.00. 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 $400.0 to $1080.0, throughout the last 30 days.
Eli Lilly and Co Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | CALL | TRADE | NEUTRAL | 08/16/24 | $40.3 | $38.85 | $39.5 | $950.00 | $691.2K | 987 | 0 |
| LLY | CALL | TRADE | BULLISH | 08/02/24 | $23.75 | $21.55 | $23.0 | $950.00 | $402.5K | 105 | 9 |
| LLY | CALL | SWEEP | BEARISH | 07/19/24 | $55.25 | $51.65 | $51.05 | $900.00 | $392.5K | 1.2K | 0 |
| LLY | CALL | SWEEP | NEUTRAL | 01/17/25 | $91.85 | $88.85 | $90.35 | $960.00 | $225.6K | 463 | 0 |
| LLY | CALL | SWEEP | BULLISH | 10/18/24 | $240.9 | $238.2 | $240.9 | $720.00 | $216.7K | 158 | 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.
Eli Lilly and Co's Current Market Status
- With a trading volume of 309,671, the price of LLY is down by -0.09%, reaching $949.65.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 23 days from now.
Expert Opinions on Eli Lilly and Co
5 market experts have recently issued ratings for this stock, with a consensus target price of $912.6.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $885.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Eli Lilly and Co, which currently sits at a price target of $1023.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $885.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $885.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $885.
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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