Benzinga | Jan 25, 2022 02:41PM EST

What Are Whales Doing With Eli Lilly

A whale with a lot of money to spend has taken a noticeably bullish stance on Eli Lilly.

Looking at options history for Eli Lilly (NYSE:LLY) we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 76% of the investors opened trades with bullish expectations and 23% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $469,792 and 8, calls, for a total amount of $249,976.

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 $200.0 to $290.0 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 $200.0 to $290.0 in the last 30 days.

Eli Lilly Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestLLY PUT SWEEP BEARISH 01/20/ $220.00 $249.6K 1.1K 43 23LLY PUT TRADE BULLISH 01/20/ $210.00 $92.0K 631 0 23LLY PUT TRADE BEARISH 01/20/ $210.00 $61.5K 631 86 23LLY CALL SWEEP BULLISH 02/18/ $260.00 $41.4K 2.1K 14 22LLY PUT SWEEP BULLISH 07/15/ $210.00 $35.3K 65 29 22

Where Is Eli Lilly Standing Right Now?

* With a volume of 1,244,074, the price of LLY is up 0.09% at $240.64.

* RSI indicators hint that the underlying stock may be oversold.

* Next earnings are expected to be released in 9 days.

What The Experts Say On Eli Lilly:

* Wells Fargo has decided to maintain their Equal-Weight rating on Eli Lilly, which currently sits at a price target of $280.

* DZ Bank upgraded its action to Buy with a price target of $291

* Morgan Stanley has decided to maintain their Overweight rating on Eli Lilly, which currently sits at a price target of $272.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.