Investors with a lot of money to spend have taken a bearish stance on Eli Lilly 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 28 uncommon options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 28% bullish and 46%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $190,255, and 23 are calls, for a total amount of $1,136,270.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $800.0 to $1060.0 for Eli Lilly 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'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's whale activity within a strike price range from $800.0 to $1060.0 in the last 30 days.
Eli Lilly Option Activity Analysis: Last 30 Days
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 | BEARISH | 12/20/24 | $70.35 | $68.8 | $68.8 | $880.00 | $275.2K | 242 | 5 |
| LLY | CALL | TRADE | BULLISH | 01/17/25 | $67.6 | $65.4 | $67.6 | $900.00 | $67.6K | 1.9K | 1 |
| LLY | CALL | TRADE | BEARISH | 01/17/25 | $68.15 | $66.5 | $66.5 | $900.00 | $66.5K | 1.9K | 12 |
| LLY | PUT | SWEEP | BULLISH | 10/04/24 | $4.25 | $3.1 | $3.1 | $860.00 | $62.0K | 975 | 334 |
| LLY | CALL | TRADE | NEUTRAL | 11/01/24 | $46.7 | $45.25 | $45.92 | $880.00 | $55.1K | 25 | 13 |
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.
After a thorough review of the options trading surrounding Eli Lilly, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Eli Lilly Standing Right Now?
- Currently trading with a volume of 609,446, the LLY's price is up by 0.24%, now at $888.05.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 29 days.
What The Experts Say On Eli Lilly
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $982.5.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $885. * An analyst from Citigroup has revised its rating downward to Buy, adjusting the price target to $1060. * An analyst from JP Morgan has decided to maintain their Overweight rating on Eli Lilly, which currently sits at a price target of $1100. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $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 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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