Anyone who has a lot of money to spend has taken a bearish stance Eli Lilly LLY,
And retail traders should know.
We noticed this today when large positions appeared on the publicly available options history that we track here at Benzinga.
Whether it is some institution or just a wealthy person, we do not know. But when something this big happens with LLY, it often means that someone knows something is about to happen.
So how do we know what this whale just did?
Today, benzingaK’s Options Scanner looked at 14 unusual options trades for Eli Lilly.
this is not normal.
The overall sentiment among these big money traders is split between 42% bullish and 57% bearish.
Of all the special options we have open, 2 are puts, for a total amount of $84,000, and 12 are calls, for a total amount of $456,437.
What is a price target?
Considering the volume and open interest on these contracts, it appears that the whales are targeting a price range of $320.0 to $380.0 for Eli Lilly over the past 3 months.
Volume and Open Interest Development
Looking at volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest for Eli Lilly’s options for a given strike price. Below, we can see the evolution of call and put volumes and open interest, respectively, for all of Eli Lilly’s whale trades within the $320.0 to $380.0 strike price range over the past 30 days.
Eli Lilly Option Volume and Open Interest over the last 30 days
Largest options seen:
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | call | Business | neutral | 04/14/23 | $345.00 | $115.5K | 113 | 50 |
| LLY | Keep | Business | fast | 04/21/23 | $380.00 | $43.5K | 142 | 30 |
| LLY | Keep | Business | fast | 04/21/23 | $370.00 | $40.5K | 433 | 57 |
| LLY | call | Business | recession | 05/19/23 | $330.00 | $40.1K | 1.0K | 20 |
| LLY | call | Business | recession | 05/19/23 | $330.00 | $40.1K | 1.0K | 0 |
| Sign | put/call | business type | Rate | Exp. date | strike price | net trade value | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| LLY | call | Business | neutral | 04/14/23 | $345.00 | $115.5K | 113 | 50 |
| LLY | Keep | Business | fast | 04/21/23 | $380.00 | $43.5K | 142 | 30 |
| LLY | Keep | Business | fast | 04/21/23 | $370.00 | $40.5K | 433 | 57 |
| LLY | call | Business | recession | 05/19/23 | $330.00 | $40.1K | 1.0K | 20 |
| LLY | call | Business | recession | 05/19/23 | $330.00 | $40.1K | 1.0K | 0 |
Where does Eli Lilly stand now?
- LLY price is up 0.76% at $365.0, with a volume of 435,445.
- The RSI indicator signals that the underlying stock may be overbought.
- The next earnings release is expected in 21 days.
What the experts on Eli Lilly say:
- Jefferies has decided to maintain its Hold rating on Eli Lilly, currently with a price target of $310.
- Wells Fargo upgraded its action to Overweight with a price target of $375.
Options are a riskier asset than stock trading, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scalping 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 Provides you with real-time options trade alerts.