Behind the Scenes of Eli Lilly's Latest Options Trends

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 36 uncommon options trades for Eli Lilly.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 44%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $468,617, and 26 are calls, for a total amount of $1,742,517.

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 $500.0 to $1040.0 for Eli Lilly over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Eli Lilly stands at 484.97, with a total volume reaching 1,651.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Eli Lilly, situated within the strike price corridor from $500.0 to $1040.0, throughout the last 30 days.

Eli Lilly Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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?

• With a trading volume of 1,031,908, the price of LLY is up by 1.05%, reaching $874.11.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 78 days from now.

Expert Opinions on Eli Lilly

3 market experts have recently issued ratings for this stock, with a consensus target price of $1066.0.

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. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Eli Lilly, targeting a price of $970. * An analyst from Citigroup has decided to maintain their Buy rating on Eli Lilly, which currently sits at a price target of $1190. * An analyst from Truist Securities has decided to maintain their Buy rating on Eli Lilly, which currently sits at a price target of $1038.

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 with Benzinga Pro for real-time alerts.