Investors with a lot of money to spend have taken a bearish stance on Eli Lilly (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 23 uncommon options trades for Eli Lilly.
This isn't normal.
The overall sentiment of these big-money traders is split between 34% bullish and 39%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $653,859, and 17 are calls, for a total amount of $645,939.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $430.0 to $860.0 for Eli Lilly over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Eli Lilly options trades today is 708.89 with a total volume of 1,120.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Eli Lilly's big money trades within a strike price range of $430.0 to $860.0 over the last 30 days.
Eli Lilly Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | PUT | SWEEP | BEARISH | 01/17/25 | $39.2 | $39.15 | $39.2 | $840.00 | $184.2K | 1.8K | 169 |
| LLY | PUT | SWEEP | BEARISH | 01/17/25 | $39.5 | $38.15 | $38.15 | $840.00 | $165.6K | 1.8K | 169 |
| LLY | PUT | SWEEP | BEARISH | 01/17/25 | $39.4 | $38.5 | $39.4 | $840.00 | $145.7K | 1.8K | 169 |
| LLY | CALL | SWEEP | BEARISH | 12/20/24 | $45.5 | $41.9 | $41.9 | $800.00 | $83.8K | 1.3K | 42 |
| LLY | PUT | SWEEP | BEARISH | 01/17/25 | $39.0 | $38.5 | $39.0 | $840.00 | $78.0K | 1.8K | 271 |
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 469,878, the LLY's price is up by 1.75%, now at $827.58.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 62 days.
Professional Analyst Ratings for Eli Lilly
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1000.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Wolfe Research downgraded its action to Outperform with a price target of $1000.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Eli Lilly with Benzinga Pro for real-time alerts.
