What the Options Market Tells Us About Eli Lilly and Co
Portfolio Pulse from Benzinga Insights
Eli Lilly and Co (NYSE:LLY) has seen significant options market activity, with a bearish sentiment prevailing among big-money investors. Benzinga's options scanner revealed 21 unusual trades, with a split sentiment of 38% bullish and 61% bearish. The trades suggest a price window of $520 to $1160 for LLY. The company, a drug firm focusing on various therapeutic areas, is currently trading at $775.86, up 0.81%, but may be overbought according to RSI readings. Analysts have issued mixed ratings, with a consensus target price of $741.
February 23, 2024 | 3:01 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Eli Lilly has seen a bearish sentiment in the options market, with significant activity suggesting a price window of $520 to $1160. The stock is currently up but may be overbought. Analyst ratings are mixed, with a consensus target price of $741.
The bearish sentiment among big-money investors, indicated by the options market activity, suggests a potential downside for LLY in the short term. The current price may be overbought according to RSI readings, and the mixed analyst ratings with a consensus target price below the current trading price further support a negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100