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 72 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 44% leaning bullish and 55% bearish. Among these notable options, 9 are puts, totaling $1,204,857, and 63 are calls, amounting to $3,901,923.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $280.0 to $800.0 for Eli Lilly over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Eli Lilly's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Eli Lilly's significant trades, within a strike price range of $280.0 to $800.0, over the past month.
Eli Lilly Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | CALL | SWEEP | BULLISH | 01/17/25 | $500.00 | $459.2K | 552 | 25 |
| LLY | CALL | TRADE | BULLISH | 01/26/24 | $600.00 | $94.0K | 299 | 200 |
| LLY | CALL | TRADE | NEUTRAL | 01/17/25 | $640.00 | $92.6K | 538 | 24 |
| LLY | CALL | SWEEP | BULLISH | 06/21/24 | $600.00 | $82.7K | 594 | 8 |
| LLY | CALL | TRADE | NEUTRAL | 02/16/24 | $300.00 | $68.6K | 3 | 6 |
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 diabetes; and Taltz and Olumiant for immunology.
In light of the recent options history for Eli Lilly, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Eli Lilly Standing Right Now?
- Trading volume stands at 1,088,146, with LLY's price up by 0.17%, positioned at $644.0.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 21 days.
Expert Opinions on Eli Lilly
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $610.0.
- An analyst from Daiwa Capital downgraded its action to Outperform with a price target of $610.
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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