Investors with a lot of money to spend have taken a bearish stance on Eli Lilly LLY.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 17 options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 64%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $43,200, and 16, calls, for a total amount of $868,279.
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 $600.0 to $780.0 for Eli Lilly during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Eli Lilly's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Eli Lilly's whale trades within a strike price range from $600.0 to $780.0 in the last 30 days.
Eli Lilly Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | CALL | TRADE | BEARISH | 02/16/24 | $700.00 | $186.9K | 2.0K | 134 |
| LLY | CALL | TRADE | BULLISH | 03/08/24 | $705.00 | $125.0K | 129 | 1 |
| LLY | CALL | SWEEP | BULLISH | 04/19/24 | $700.00 | $85.5K | 1.2K | 7 |
| LLY | CALL | SWEEP | BEARISH | 02/09/24 | $700.00 | $69.7K | 1.6K | 51 |
| LLY | CALL | SWEEP | BULLISH | 03/22/24 | $680.00 | $46.6K | 4 | 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.
Present Market Standing of Eli Lilly
- Trading volume stands at 69,618, with LLY's price up by 0.89%, positioned at $711.33.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 78 days.
Professional Analyst Ratings for Eli Lilly
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $720.0.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $630.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $630.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Eli Lilly, which currently sits at a price target of $700.
- An analyst from Wells Fargo persists with their Overweight rating on Eli Lilly, maintaining a target price of $825.
- Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Eli Lilly, targeting a price of $815.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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