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 30 uncommon options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 23% bullish and 43%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $369,830, and 24 are calls, for a total amount of $1,079,952.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $620.0 to $1040.0 for Eli Lilly during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Eli Lilly's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Eli Lilly's substantial trades, within a strike price spectrum from $620.0 to $1040.0 over the preceding 30 days.
Eli Lilly Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | PUT | TRADE | BULLISH | 11/15/24 | $36.9 | $34.4 | $34.7 | $910.00 | $128.3K | 763 | 52 |
| LLY | CALL | TRADE | NEUTRAL | 08/15/25 | $128.0 | $122.3 | $125.0 | $920.00 | $100.0K | 18 | 8 |
| LLY | CALL | TRADE | NEUTRAL | 11/22/24 | $50.8 | $47.9 | $49.43 | $910.00 | $98.8K | 2 | 20 |
| LLY | CALL | SWEEP | BULLISH | 10/18/24 | $4.3 | $4.0 | $4.3 | $935.00 | $86.0K | 343 | 628 |
| LLY | CALL | SWEEP | BULLISH | 10/18/24 | $4.0 | $3.85 | $4.0 | $935.00 | $78.0K | 343 | 223 |
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.
In light of the recent options history for Eli Lilly, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Eli Lilly Standing Right Now?
- With a volume of 337,739, the price of LLY is down -1.13% at $919.01.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 15 days.
Expert Opinions on Eli Lilly
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $981.0.
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. * An analyst from Deutsche Bank has revised its rating downward to Buy, adjusting the price target to $1025. * An analyst from Truist Securities has decided to maintain their Buy rating on Eli Lilly, which currently sits at a price target of $1033. * 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 options trades with real-time alerts from Benzinga Pro.
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