Deep-pocketed investors have adopted a bullish approach towards Eli Lilly LLY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LLY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 90 extraordinary options activities for Eli Lilly. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 33% bearish. Among these notable options, 20 are puts, totaling $654,388, and 70 are calls, amounting to $15,760,820.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $240.0 to $1300.0 for Eli Lilly over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Eli Lilly options trades today is 469.93 with a total volume of 18,909.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Eli Lilly's big money trades within a strike price range of $240.0 to $1300.0 over the last 30 days.
Eli Lilly Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | CALL | TRADE | BULLISH | 11/15/24 | $123.05 | $120.3 | $123.0 | $840.00 | $1.2M | 2.2K | 1.2K |
| LLY | CALL | TRADE | BULLISH | 11/15/24 | $121.3 | $119.9 | $121.0 | $840.00 | $1.2M | 2.2K | 1.6K |
| LLY | CALL | TRADE | BULLISH | 11/15/24 | $119.65 | $117.5 | $119.5 | $840.00 | $1.1M | 2.2K | 1.0K |
| LLY | CALL | TRADE | BULLISH | 11/15/24 | $119.25 | $117.0 | $119.1 | $840.00 | $1.1M | 2.2K | 1.1K |
| LLY | CALL | TRADE | BULLISH | 11/15/24 | $117.0 | $115.45 | $116.8 | $840.00 | $1.1M | 2.2K | 922 |
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.
Following our analysis of the options activities associated with Eli Lilly, we pivot to a closer look at the company's own performance.
Eli Lilly's Current Market Status
- Currently trading with a volume of 1,616,149, the LLY's price is up by 0.23%, now at $923.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 49 days.
Professional Analyst Ratings for Eli Lilly
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $991.2.
- Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Overweight with a new price target of $1106.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $885.
- Consistent in their evaluation, an analyst from Berenberg keeps a Buy rating on Eli Lilly with a target price of $1050.
- Consistent in their evaluation, an analyst from Guggenheim keeps a Buy rating on Eli Lilly with a target price of $1030.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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