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 179 uncommon options trades for Eli Lilly and Co.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 29%, bearish.

Out of all of the special options we uncovered, 30 are puts, for a total amount of $5,070,199, and 149 are calls, for a total amount of $13,381,117.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $1160.0 for Eli Lilly and Co over the last 3 months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Eli Lilly and Co's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Eli Lilly and Co's substantial trades, within a strike price spectrum from $160.0 to $1160.0 over the preceding 30 days.

Eli Lilly and Co Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
LLY CALL SWEEP BEARISH 06/21/24 $24.2 $22.8 $24.2 $850.00 $413.8K 2.8K 854
LLY CALL SWEEP BEARISH 06/21/24 $24.2 $24.2 $24.2 $850.00 $363.0K 2.8K 854
LLY PUT TRADE BEARISH 01/17/25 $83.8 $82.6 $83.8 $900.00 $293.3K 41 51
LLY CALL TRADE NEUTRAL 06/21/24 $173.4 $170.65 $172.2 $700.00 $172.2K 442 11
LLY CALL TRADE BEARISH 09/20/24 $82.15 $80.8 $80.8 $820.00 $153.5K 202 87

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 volume of 2,287,098, the price of LLY is up 1.54% at $863.1.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 57 days.

What Analysts Are Saying About Eli Lilly and Co

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $898.5.

  • An analyst from Jefferies persists with their Buy rating on Eli Lilly and Co, maintaining a target price of $957.
  • An analyst from Argus Research has decided to maintain their Buy rating on Eli Lilly and Co, which currently sits at a price target of $840.

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 and Co, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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