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 21 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 47% leaning bullish and 52% bearish. Among these notable options, 3 are puts, totaling $927,430, and 18 are calls, amounting to $1,254,027.
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 $340.0 to $750.0 for Eli Lilly during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Eli Lilly options trades today is 969.95 with a total volume of 3,031.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Eli Lilly's big money trades within a strike price range of $340.0 to $750.0 over the last 30 days.
Eli Lilly 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | PUT | SWEEP | BEARISH | 01/17/25 | $630.00 | $856.4K | 11 | 300 |
| LLY | CALL | TRADE | BULLISH | 04/19/24 | $700.00 | $252.0K | 342 | 351 |
| LLY | CALL | TRADE | BULLISH | 04/19/24 | $700.00 | $151.5K | 342 | 452 |
| LLY | CALL | TRADE | BULLISH | 01/19/24 | $620.00 | $139.5K | 1.6K | 0 |
| LLY | CALL | TRADE | BULLISH | 01/17/25 | $620.00 | $83.7K | 159 | 1 |
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, Jardiance, Trulicity, Humalog, and Humulin for diabetes; and Taltz and Olumiant for immunology.
Present Market Standing of Eli Lilly
- With a trading volume of 1,031,657, the price of LLY is up by 0.12%, reaching $592.22.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 65 days from now.
What Analysts Are Saying About Eli Lilly
5 market experts have recently issued ratings for this stock, with a consensus target price of $629.4.
- An analyst from Morgan Stanley persists with their Overweight rating on Eli Lilly, maintaining a target price of $722.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $630.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $630.
- An analyst from Deutsche Bank has revised its rating downward to Hold, adjusting the price target to $535.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $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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