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

Author: Benzinga Insights | July 15, 2024 09:47am

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 trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 19 uncommon options trades for Eli Lilly and Co.

This isn't normal.

The overall sentiment of these big-money traders is split between 21% bullish and 31%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $248,755, and 16 are calls, for a total amount of $1,477,703.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $340.0 to $1040.0 for Eli Lilly and Co over the recent three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Eli Lilly and Co's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Eli Lilly and Co's substantial trades, within a strike price spectrum from $340.0 to $1040.0 over the preceding 30 days.

Eli Lilly and Co 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
LLY	CALL	TRADE	BEARISH	06/20/25	$396.0	$392.0	$392.0	$600.00	$235.2K	18	0
LLY	CALL	TRADE	NEUTRAL	08/16/24	$39.3	$36.9	$38.07	$960.00	$190.3K	638	0
LLY	CALL	TRADE	NEUTRAL	07/19/24	$18.8	$14.75	$16.98	$950.00	$169.8K	1.0K	51
LLY	CALL	SWEEP	NEUTRAL	08/16/24	$244.85	$238.0	$241.37	$720.00	$120.6K	303	7
LLY	CALL	SWEEP	NEUTRAL	08/16/24	$234.9	$228.0	$231.52	$730.00	$115.7K	221	7

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.

Present Market Standing of Eli Lilly and Co

• Currently trading with a volume of 30,019, the LLY's price is down by 0.0%, now at $948.4.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 22 days.

What Analysts Are Saying About Eli Lilly and Co

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $908.0.

• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $885.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $885.
• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $885.
• An analyst from B of A Securities has decided to maintain their Buy rating on Eli Lilly and Co, which currently sits at a 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 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