Unpacking the Latest Options Trading Trends in Eli Lilly

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 69 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 34% leaning bullish and 40% bearish. Among these notable options, 25 are puts, totaling $2,733,522, and 44 are calls, amounting to $3,125,976.

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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 $300.0 and $1200.0 for Eli Lilly, spanning the last three months.

Volume & Open Interest Development

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 $300.0 to $1200.0 in the last 30 days.

Eli Lilly Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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

• With a trading volume of 2,442,567, the price of LLY is down by -2.66%, reaching $726.23.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 85 days from now.

Professional Analyst Ratings for Eli Lilly

In the last month, 3 experts released ratings on this stock with an average target price of $908.33.

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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. * Reflecting concerns, an analyst from HSBC lowers its rating to Reduce with a new price target of $700. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Eli Lilly with a target price of $1050. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $975.

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.