Market Whales and Their Recent Bets on LLY Options
Financial giants have made a conspicuous bearish move on Eli Lilly and Co. Our analysis of options history for Eli Lilly and Co (NYSE:LLY) revealed 15 unusual trades.
Delving into the details, we found 26% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $881,458, and 10 were calls, valued at $903,584.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $430.0 and $980.0 for Eli Lilly and Co, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Eli Lilly and Co stands at 563.62, with a total volume reaching 297.00. 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 $980.0, throughout the last 30 days.
Eli Lilly and Co Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | PUT | SWEEP | BEARISH | 07/26/24 | $64.0 | $61.35 | $64.0 | $935.00 | $640.0K | 150 | 100 |
| LLY | CALL | SWEEP | BULLISH | 01/17/25 | $142.9 | $137.8 | $140.78 | $780.00 | $281.9K | 3.5K | 0 |
| LLY | CALL | SWEEP | NEUTRAL | 01/17/25 | $142.7 | $138.6 | $140.68 | $780.00 | $253.4K | 3.5K | 41 |
| LLY | PUT | TRADE | BULLISH | 07/26/24 | $77.3 | $72.3 | $72.3 | $940.00 | $108.4K | 103 | 15 |
| LLY | PUT | TRADE | BEARISH | 07/26/24 | $14.6 | $10.85 | $14.6 | $870.00 | $73.0K | 431 | 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.
After a thorough review of the options trading surrounding Eli Lilly and Co, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Eli Lilly and Co
- With a volume of 73,482, the price of LLY is up 0.45% at $869.85.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 16 days.
Professional Analyst Ratings for Eli Lilly and Co
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $959.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $885.
- Consistent in their evaluation, an analyst from Berenberg keeps a Buy rating on Eli Lilly and Co with a target price of $1000.
- An analyst from Barclays persists with their Overweight rating on Eli Lilly and Co, maintaining a target price of $1025.
- Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $1000.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $885.
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 and Co, Benzinga Pro gives you real-time options trades alerts.