Deep-pocketed investors have adopted a bearish 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 24 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 20% leaning bullish and 45% bearish. Among these notable options, 7 are puts, totaling $593,840, and 17 are calls, amounting to $1,313,332.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $400.0 and $1160.0 for Eli Lilly, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Eli Lilly options trades today is 693.14 with a total volume of 1,251.00.
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 $400.0 to $1160.0 over the last 30 days.
Eli Lilly 30-Day Option Volume & Interest Snapshot
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 | SWEEP | BULLISH | 12/20/24 | $27.75 | $27.75 | $27.75 | $840.00 | $233.1K | 644 | 85 |
| LLY | CALL | TRADE | BEARISH | 01/17/25 | $76.4 | $73.8 | $74.79 | $780.00 | $186.9K | 3.3K | 88 |
| LLY | PUT | TRADE | BEARISH | 11/15/24 | $85.45 | $83.45 | $85.45 | $910.00 | $145.2K | 583 | 78 |
| LLY | PUT | TRADE | BEARISH | 11/15/24 | $85.25 | $83.45 | $85.2 | $910.00 | $127.8K | 583 | 93 |
| LLY | CALL | SWEEP | BULLISH | 01/16/26 | $142.3 | $138.6 | $142.0 | $800.00 | $113.5K | 369 | 69 |
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 204,688, with LLY's price up by 1.12%, positioned at $828.05.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 83 days.
What Analysts Are Saying About Eli Lilly
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1088.0.
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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. * In a cautious move, an analyst from Bernstein downgraded its rating to Outperform, setting a price target of $1100. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Eli Lilly with a target price of $1250. * Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Eli Lilly, targeting a price of $1015. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Eli Lilly, targeting a price of $975. * An analyst from B of A Securities has decided to maintain their Buy rating on Eli Lilly, which currently sits at a price target of $1100.
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.
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