This Is What Whales Are Betting On Eli Lilly and Co

Author: Benzinga Insights | May 06, 2024 11:45am

Deep-pocketed investors have adopted a bullish 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 35 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 62% leaning bullish and 31% bearish. Among these notable options, 4 are puts, totaling $163,255, and 31 are calls, amounting to $1,565,727.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $240.0 and $860.0 for Eli Lilly and Co, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Eli Lilly and Co stands at 273.5, with a total volume reaching 2,377.00. 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 $240.0 to $860.0, throughout the last 30 days.

Eli Lilly and Co Option Activity Analysis: Last 30 Days

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	06/21/24	$512.8	$510.0	$510.0	$240.00	$255.0K	16	5
LLY	CALL	TRADE	BULLISH	07/19/24	$5.95	$5.45	$5.95	$860.00	$119.0K	1.2K	0
LLY	CALL	SWEEP	BULLISH	05/10/24	$9.45	$8.15	$8.89	$750.00	$91.4K	384	203
LLY	CALL	TRADE	BEARISH	09/20/24	$36.65	$34.0	$34.6	$800.00	$62.2K	669	29
LLY	CALL	SWEEP	BULLISH	05/10/24	$10.5	$10.4	$10.5	$750.00	$61.9K	384	563

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 1,061,684, the price of LLY is up 2.32% at $752.02.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 92 days.

Professional Analyst Ratings for 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 $866.2.

• An analyst from JP Morgan has decided to maintain their Overweight rating on Eli Lilly and Co, which currently sits at a price target of $900.
• An analyst from Goldman Sachs persists with their Neutral rating on Eli Lilly and Co, maintaining a target price of $723.
• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $815.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Eli Lilly and Co with a target price of $892.
• Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Eli Lilly and Co with a target price of $1001.

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 and Co with Benzinga Pro for real-time alerts.

Posted In: LLY