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 30 uncommon options trades for Eli Lilly.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 40%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $381,441, and 21 are calls, for a total amount of $1,724,773.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $300.0 to $1000.0 for Eli Lilly during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Eli Lilly options trades today is 370.19 with a total volume of 1,675.00.

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 $300.0 to $1000.0 over the last 30 days.

Eli Lilly Call and Put Volume: 30-Day Overview

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 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.

Present Market Standing of Eli Lilly

• Trading volume stands at 1,094,643, with LLY's price up by 0.12%, positioned at $925.56.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 35 days.

Expert Opinions on Eli Lilly

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1007.2.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Eli Lilly with a target price of $1100. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $885. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $885. * An analyst from Morgan Stanley has revised its rating downward to Overweight, adjusting the price target to $1106. * An analyst from Citigroup has revised its rating downward to Buy, adjusting the price target to $1060.

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.