High-rolling investors have positioned themselves bearish on Eli Lilly and Co (NYSE:LLY), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in LLY often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Eli Lilly and Co. This is not a typical pattern.
The sentiment among these major traders is split, with 41% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $50,300, and 11 calls, totaling $569,034.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $630.0 to $960.0 for Eli Lilly and Co over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Eli Lilly and Co stands at 451.5, with a total volume reaching 20.00. 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 $630.0 to $960.0, throughout the last 30 days.
Eli Lilly and Co Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | CALL | TRADE | BULLISH | 08/23/24 | $49.8 | $43.0 | $48.24 | $900.00 | $144.7K | 2 | 0 |
| LLY | CALL | TRADE | BEARISH | 07/05/24 | $55.9 | $48.95 | $51.22 | $850.00 | $76.8K | 95 | 0 |
| LLY | CALL | SWEEP | BEARISH | 08/16/24 | $24.45 | $22.5 | $23.2 | $950.00 | $69.5K | 943 | 0 |
| LLY | PUT | TRADE | BEARISH | 06/20/25 | $50.3 | $47.85 | $50.3 | $800.00 | $50.3K | 51 | 0 |
| LLY | CALL | TRADE | NEUTRAL | 08/16/24 | $78.45 | $71.8 | $75.63 | $850.00 | $45.3K | 840 | 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.
Eli Lilly and Co's Current Market Status
- With a volume of 164,284, the price of LLY is down -0.05% at $897.62.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 32 days.
Expert Opinions on Eli Lilly and Co
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $958.8.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Eli Lilly and Co, which currently sits at a price target of $1023.
- 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 Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $885.
- An analyst from BMO Capital persists with their Outperform rating on Eli Lilly and Co, maintaining a target price of $1001.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $885.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Eli Lilly and Co options trades with real-time alerts from Benzinga Pro.