27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Investors with a lot of money to spend have taken a bearish stance on Eli Lilly (NYSE: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 20 uncommon options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 65%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $219,340, and 17 are calls, for a total amount of $663,910.
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 $360.0 to $680.0 for Eli Lilly over the last 3 months.
Analyzing Volume & Open Interest
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'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's significant trades, within a strike price range of $360.0 to $680.0, over the past month.
Eli Lilly 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | PUT | TRADE | BULLISH | 06/21/24 | $610.00 | $103.7K | 59 | 155 |
| LLY | CALL | TRADE | BULLISH | 01/05/24 | $625.00 | $95.3K | 1.2K | 129 |
| LLY | PUT | TRADE | BEARISH | 03/15/24 | $630.00 | $74.5K | 9 | 24 |
| LLY | CALL | TRADE | BEARISH | 04/19/24 | $680.00 | $47.0K | 234 | 94 |
| LLY | CALL | TRADE | NEUTRAL | 01/17/25 | $530.00 | $46.2K | 1.3K | 0 |
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.
Eli Lilly's Current Market Status
- With a volume of 1,215,222, the price of LLY is up 1.03% at $624.04.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 33 days.
What Analysts Are Saying About Eli Lilly
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $610.0.
- An analyst from Daiwa Capital downgraded its action to Outperform with a price target of $610.
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, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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