A Closer Look at Eli Lilly's Options Market Dynamics
Portfolio Pulse from Benzinga Insights
Options market analysis shows a bullish sentiment towards Eli Lilly (NYSE:LLY), with 56% of traders being bullish. Significant options trades have been observed, with a focus on strike prices ranging from $300 to $630. Eli Lilly's stock is slightly down at $568.35 with potential oversold conditions. Analysts have set an average price target of $630, with Truist Securities giving a 'Buy' rating with a $650 target and Daiwa Capital rating it 'Outperform' with a $610 target.
December 26, 2023 | 6:00 pm
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Eli Lilly shows bullish options activity with a higher volume of calls than puts. Analysts have a positive outlook with an average price target of $630, despite a slight current price dip to $568.35.
The bullish options activity, with a higher number of calls and significant trade values, indicates investor confidence in Eli Lilly's future performance. The average price target set by analysts aligns with the options market sentiment. The slight dip in stock price may present a buying opportunity, as the RSI suggests potential oversold conditions. The upcoming earnings release could also influence the stock's short-term performance.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100