Someone with a lot of money to spend has taken a bearish stance on Eli Lilly LLY.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, 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 16 options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $56,800, and 15, calls, for a total amount of $610,114.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $250.0 to $620.0 for Eli Lilly during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Eli Lilly stands at 453.82, with a total volume reaching 1,594.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Eli Lilly, situated within the strike price corridor from $250.0 to $620.0, throughout the last 30 days.
Eli Lilly Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | CALL | TRADE | BEARISH | 11/10/23 | $570.00 | $80.2K | 204 | 0 |
| LLY | CALL | TRADE | BEARISH | 01/19/24 | $610.00 | $59.3K | 809 | 0 |
| LLY | PUT | SWEEP | BULLISH | 12/15/23 | $620.00 | $56.8K | 189 | 16 |
| LLY | CALL | SWEEP | BULLISH | 11/10/23 | $600.00 | $56.7K | 1.6K | 58 |
| LLY | CALL | TRADE | BULLISH | 01/17/25 | $570.00 | $45.8K | 76 | 0 |
Present Market Standing of Eli Lilly
- With a trading volume of 318,222, the price of LLY has up by 0.3%, reaching $597.0. Current RSI values indicate that the stock is may be approaching overbought. Next earnings report is scheduled for 86 days from now.
Professional Analyst Ratings for Eli Lilly:
- Maintaining their stance, Citigroup continues to hold a Buy rating for Eli Lilly, targeting a price of $675.
- Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $630.
- Consistent in their evaluation, Wells Fargo keeps a Overweight rating on Eli Lilly with a target price of $650.
- Maintaining their stance, Morgan Stanley continues to hold a Overweight rating for Eli Lilly, targeting a price of $673.
- Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $630.
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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