What the Options Market Tells Us About Eli Lilly and Co

Investors with a lot of money to spend have taken a bearish stance on Eli Lilly and Co 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 21 uncommon options trades for Eli Lilly and Co.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $145,014, and 19 are calls, for a total amount of $2,034,424.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $520.0 to $1160.0 for Eli Lilly and Co during the past quarter.

Volume & Open Interest Development

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 and Co'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 and Co's substantial trades, within a strike price spectrum from $520.0 to $1160.0 over the preceding 30 days.

Eli Lilly and Co Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Eli Lilly and Co

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.

Present Market Standing of Eli Lilly and Co

• Currently trading with a volume of 284,946, the LLY's price is up by 0.81%, now at $775.86.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 62 days.

What Analysts Are Saying About Eli Lilly and Co

5 market experts have recently issued ratings for this stock, with a consensus target price of $741.0.

• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $630.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Eli Lilly and Co, targeting a price of $825.
• An analyst from Cantor Fitzgerald persists with their Overweight rating on Eli Lilly and Co, maintaining a target price of $815.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Eli Lilly and Co, targeting a price of $805.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $630.

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 and Co options trades with real-time alerts from Benzinga Pro.