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Deep-pocketed investors have adopted a bearish approach towards Eli Lilly and Co (NYSE: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 79 extraordinary options activities for Eli Lilly and Co. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 43% bearish. Among these notable options, 9 are puts, totaling $502,855, and 70 are calls, amounting to $5,755,860.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $390.0 and $1000.0 for Eli Lilly and Co, spanning the last three months.
In terms of liquidity and interest, the mean open interest for Eli Lilly and Co options trades today is 580.93 with a total volume of 7,734.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Eli Lilly and Co's big money trades within a strike price range of $390.0 to $1000.0 over the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | CALL | SWEEP | BEARISH | 07/19/24 | $28.8 | $28.6 | $28.6 | $850.00 | $283.1K | 955 | 291 |
| LLY | CALL | SWEEP | BEARISH | 07/19/24 | $30.2 | $30.05 | $30.05 | $850.00 | $267.4K | 955 | 407 |
| LLY | CALL | TRADE | BEARISH | 12/18/26 | $217.0 | $214.0 | $214.0 | $820.00 | $214.0K | 33 | 0 |
| LLY | CALL | SWEEP | BULLISH | 07/19/24 | $28.5 | $28.5 | $28.5 | $850.00 | $208.0K | 955 | 94 |
| LLY | CALL | SWEEP | BULLISH | 06/21/24 | $62.35 | $61.95 | $62.35 | $780.00 | $205.7K | 1.3K | 40 |
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.
Having examined the options trading patterns of Eli Lilly and Co, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $840.0.
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.
Posted In: LLY
