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 positions 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.
Today, Benzinga's options scanner spotted 9 options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $56,500, and 8, calls, for a total amount of $275,315.
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What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $270.0 to $610.0 for Eli Lilly over the last 3 months.
Insights into Volume & Open Interest
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 $270.0 to $610.0 in the last 30 days.
Eli Lilly Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | PUT | SWEEP | BULLISH | 12/15/23 | $580.00 | $56.5K | 1.4K | 0 |
| LLY | CALL | TRADE | BEARISH | 06/21/24 | $600.00 | $51.3K | 611 | 0 |
| LLY | CALL | TRADE | BULLISH | 02/16/24 | $580.00 | $40.4K | 213 | 10 |
| LLY | CALL | TRADE | BEARISH | 01/16/26 | $510.00 | $34.0K | 2 | 0 |
| LLY | CALL | TRADE | BULLISH | 04/19/24 | $270.00 | $32.6K | 4 | 0 |
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 diabetes; and Taltz and Olumiant for immunology.
Having examined the options trading patterns of Eli Lilly, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Eli Lilly's Current Market Status
- Trading volume stands at 432,624, with LLY's price down by -0.04%, positioned at $587.91.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 57 days.
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.
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