Eli Lilly Unusual Options Activity

Investors with a lot of money to spend have taken a bullish 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 25 uncommon options trades for Eli Lilly.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 28%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $369,090, and 21 are calls, for a total amount of $1,464,905.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $700.0 to $1000.0 for Eli Lilly over the last 3 months.

Analyzing Volume & Open Interest

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 $700.0 to $1000.0 over the preceding 30 days.

Eli Lilly Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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

Current Position of Eli Lilly

• Trading volume stands at 210,669, with LLY's price up by 2.04%, positioned at $862.54.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 83 days.

Expert Opinions on Eli Lilly

5 market experts have recently issued ratings for this stock, with a consensus target price of $999.0.

• An analyst from JP Morgan persists with their Overweight rating on Eli Lilly, maintaining a target price of $1000.
• Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for Eli Lilly, targeting a price of $884.
• An analyst from BMO Capital has decided to maintain their Outperform rating on Eli Lilly, which currently sits at a price target of $1101.
• Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Eli Lilly, targeting a price of $1125.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $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.