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Benzinga Insights

This Is What Whales Are Betting On Eli Lilly

Someone with a lot of money to spend has taken a bullish stance on Eli Lilly (NYSE:LLY).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with LLY, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Eli Lilly.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $86,125, and 9, calls, for a total amount of $1,360,585..

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 $347.5 to $370.0 for Eli Lilly over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while 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 observe the evolution of the volume and open interest of calls and puts, respectively, for all of Eli Lilly's whale trades within a strike price range from $347.5 to $370.0 in the last 30 days.

Eli Lilly Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
LLY CALL SWEEP BULLISH 10/28/22 $347.50 $549.6K 80 2.2K
LLY CALL TRADE NEUTRAL 10/28/22 $347.50 $474.7K 80 1.0K
LLY PUT TRADE BULLISH 06/16/23 $350.00 $86.1K 48 35
LLY CALL SWEEP BEARISH 12/16/22 $350.00 $84.4K 338 66
LLY CALL TRADE BEARISH 06/16/23 $370.00 $75.0K 84 29

Where Is Eli Lilly Standing Right Now?

  • With a volume of 603,110, the price of LLY is up 0.71% at $350.36.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 7 days.

What The Experts Say On Eli Lilly:

  • Morgan Stanley has decided to maintain their Overweight rating on Eli Lilly, which currently sits at a price target of $408.

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.

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