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 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 8 options trades for Eli Lilly and Co.
This isn't normal.
The overall sentiment of these big-money traders is split between 12% bullish and 87%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,144, and 7, calls, for a total amount of $356,699.
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 $750.0 to $830.0 for Eli Lilly and Co over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Eli Lilly and Co's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Eli Lilly and Co's significant trades, within a strike price range of $750.0 to $830.0, over the past month.
Eli Lilly and Co Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | CALL | SWEEP | BEARISH | 05/10/24 | $15.55 | $13.75 | $13.75 | $830.00 | $82.5K | 410 | 40 |
| LLY | CALL | TRADE | BEARISH | 04/19/24 | $14.3 | $10.9 | $11.61 | $785.00 | $58.0K | 430 | 0 |
| LLY | CALL | SWEEP | BEARISH | 04/19/24 | $14.25 | $10.4 | $10.71 | $785.00 | $54.3K | 430 | 100 |
| LLY | CALL | SWEEP | BEARISH | 04/19/24 | $16.7 | $15.3 | $16.7 | $770.00 | $50.1K | 1.0K | 1 |
| LLY | CALL | SWEEP | BULLISH | 05/17/24 | $49.45 | $46.15 | $47.95 | $750.00 | $47.9K | 9.2K | 11 |
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.
Following our analysis of the options activities associated with Eli Lilly and Co, we pivot to a closer look at the company's own performance.
Where Is Eli Lilly and Co Standing Right Now?
- Trading volume stands at 35,212, with LLY's price up by 0.15%, positioned at $778.49.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 21 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Eli Lilly and Co, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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