Unpacking the Latest Options Trading Trends in Eli Lilly and Co

Investors with a lot of money to spend have taken a bullish stance on Eli Lilly and Co 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 42 uncommon options trades for Eli Lilly and Co.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 38%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $553,275, and 34 are calls, for a total amount of $2,641,966.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $430.0 and $920.0 for Eli Lilly and Co, spanning the last three months.

Volume & Open Interest Trends

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 and Co'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 and Co's whale trades within a strike price range from $430.0 to $920.0 in the last 30 days.

Eli Lilly and Co 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
LLY CALL TRADE BULLISH 07/19/24 $52.0 $51.65 $52.0 $750.00 $972.4K 524 20
LLY PUT TRADE NEUTRAL 07/19/24 $155.5 $150.0 $152.56 $920.00 $228.8K 1 0
LLY CALL SWEEP BEARISH 06/21/24 $12.7 $12.0 $12.05 $820.00 $120.8K 540 6
LLY CALL TRADE NEUTRAL 08/16/24 $37.95 $36.2 $37.1 $800.00 $111.3K 163 18
LLY CALL SWEEP BEARISH 07/19/24 $51.8 $46.2 $46.83 $760.00 $103.1K 303 0

About Eli Lilly and Co

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.

Current Position of Eli Lilly and Co

  • With a trading volume of 801,778, the price of LLY is down by -1.47%, reaching $765.34.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 96 days from now.

What The Experts Say On Eli Lilly and Co

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $843.0.

  • An analyst from Goldman Sachs persists with their Neutral rating on Eli Lilly and Co, maintaining a target price of $723.
  • An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $885.
  • An analyst from JP Morgan has decided to maintain their Overweight rating on Eli Lilly and Co, which currently sits at a price target of $900.
  • An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $815.
  • An analyst from Truist Securities has decided to maintain their Buy rating on Eli Lilly and Co, which currently sits at a price target of $892.

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 and Co with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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