Eli Lilly and Co’s Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bearish stance on Eli Lilly and Co (NYSE:LLY).

And retail traders should know.

We noticed this today when the positions 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.

Today, Benzinga’s options scanner spotted 13 options trades for Eli Lilly and Co.

This isn’t normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $34,200, and 12, calls, for a total amount of $1,427,576.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $430.0 to $1000.0 for Eli Lilly and Co over the last 3 months.

Volume & Open Interest Trends

In today’s trading context, the average open interest for options of Eli Lilly and Co stands at 327.46, with a total volume reaching 92.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Eli Lilly and Co, situated within the strike price corridor from $430.0 to $1000.0, throughout the last 30 days.

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

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LLY CALL TRADE NEUTRAL 03/28/24 $650.00 $657.3K 74 1
LLY CALL TRADE BULLISH 04/19/24 $540.00 $239.0K 45 0
LLY CALL SWEEP BEARISH 03/28/24 $772.50 $109.0K 316 3
LLY CALL TRADE BULLISH 05/17/24 $760.00 $64.8K 1.3K 14
LLY CALL SWEEP BEARISH 04/12/24 $780.00 $62.0K 68 0

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.

In light of the recent options history for Eli Lilly and Co, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Eli Lilly and Co’s Current Market Status

  • With a volume of 69,109, the price of LLY is up 0.4% at $778.0.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 34 days.

Professional Analyst Ratings for Eli Lilly and Co

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $900.0.

  • Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Eli Lilly and Co, targeting a price of $1000.
  • An analyst from JP Morgan persists with their Overweight rating on Eli Lilly and Co, maintaining a target price of $850.
  • An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $850.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Eli Lilly and Co with Benzinga Pro for real-time alerts.

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