Unpacking the Latest Options Trading Trends in Eli Lilly

Author: Benzinga Insights | September 12, 2024 10:03am

Financial giants have made a conspicuous bearish move on Eli Lilly. Our analysis of options history for Eli Lilly (NYSE:LLY) revealed 22 unusual trades.

Delving into the details, we found 31% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $79,790, and 19 were calls, valued at $3,152,686.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $240.0 to $1180.0 for Eli Lilly over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Eli Lilly's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Eli Lilly's significant trades, within a strike price range of $240.0 to $1180.0, over the past month.

Eli Lilly Option Activity Analysis: 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	BEARISH	12/19/25	$700.0	$690.0	$694.0	$240.00	$1.3M	17	0
LLY	CALL	SWEEP	BULLISH	11/15/24	$112.0	$108.65	$112.0	$840.00	$560.0K	2.2K	50
LLY	CALL	SWEEP	BULLISH	09/13/24	$7.0	$6.0	$6.51	$925.00	$333.3K	359	708
LLY	CALL	TRADE	BEARISH	09/13/24	$8.4	$6.8	$6.8	$925.00	$102.0K	359	858
LLY	CALL	SWEEP	BULLISH	09/13/24	$3.2	$2.7	$3.19	$935.00	$79.6K	530	70

About Eli Lilly

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 cardiometabolic; and Taltz and Olumiant for immunology.

Where Is Eli Lilly Standing Right Now?

• Currently trading with a volume of 233,725, the LLY's price is up by 0.08%, now at $921.59.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 49 days.

Professional Analyst Ratings for Eli Lilly

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $991.2.

• An analyst from Berenberg persists with their Buy rating on Eli Lilly, maintaining a target price of $1050.
• Consistent in their evaluation, an analyst from Guggenheim keeps a Buy rating on Eli Lilly with a target price of $1030.
• In a cautious move, an analyst from Morgan Stanley downgraded its rating to Overweight, setting a price target of $1106.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $885.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with 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, Benzinga Pro gives you real-time options trades alerts.

Posted In: LLY