High-rolling investors have positioned themselves bearish on Eli Lilly LLY, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in LLY often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 39 options trades for Eli Lilly. This is not a typical pattern.
The sentiment among these major traders is split, with 38% bullish and 53% bearish. Among all the options we identified, there was one put, amounting to $42,000, and 38 calls, totaling $5,455,963.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $690.0 to $940.0 for Eli Lilly over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Eli Lilly options trades today is 480.38 with a total volume of 1,812.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Eli Lilly's big money trades within a strike price range of $690.0 to $940.0 over the last 30 days.
Eli Lilly Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | CALL | SWEEP | BULLISH | 11/15/24 | $236.95 | $234.3 | $237.0 | $700.00 | $2.3M | 756 | 100 |
| LLY | CALL | SWEEP | BULLISH | 09/20/24 | $135.8 | $134.05 | $135.8 | $800.00 | $611.9K | 1.3K | 45 |
| LLY | CALL | SWEEP | BEARISH | 12/19/25 | $183.55 | $176.1 | $176.3 | $900.00 | $125.0K | 498 | 91 |
| LLY | CALL | SWEEP | BEARISH | 12/19/25 | $181.75 | $173.0 | $174.05 | $900.00 | $123.3K | 498 | 1 |
| LLY | CALL | SWEEP | BEARISH | 12/19/25 | $179.7 | $173.05 | $174.05 | $900.00 | $123.0K | 498 | 31 |
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 cardiometabolic; and Taltz and Olumiant for immunology.
Current Position of Eli Lilly
- Currently trading with a volume of 610,194, the LLY's price is down by -0.69%, now at $924.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 77 days.
What The Experts Say On Eli Lilly
In the last month, 5 experts released ratings on this stock with an average target price of $1017.0.
- An analyst from B of A Securities persists with their Buy rating on Eli Lilly, maintaining a target price of $1125.
- An analyst from Deutsche Bank upgraded its action to Buy with a price target of $1025.
- An analyst from Berenberg has decided to maintain their Buy rating on Eli Lilly, which currently sits at a price target of $1050.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $885.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Eli Lilly, targeting a price of $1000.
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 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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