Eli Lilly and Co's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Eli Lilly and Co (NYSE:LLY) has seen a significant amount of options trading activity, indicating a bearish sentiment among big-money investors. Benzinga's options scanner revealed 12 unusual trades, with an overall sentiment of 83% bearish. The trades suggest a price target range of $640 to $830 for LLY in the next three months. Currently, LLY's stock is slightly down by -0.64% at $767.81, with potential overbought signals. Analyst ratings in the last month have set an average target price of $871.25 for LLY.
March 20, 2024 | 2:02 pm
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Eli Lilly has seen bearish options activity, suggesting big investors anticipate a price movement. Despite this, analyst ratings remain optimistic with a higher average target price.
The bearish sentiment from options traders contrasts with the optimistic view from analysts, indicating uncertainty. The significant options activity, especially the bearish sentiment, could lead to short-term price volatility. However, the strong analyst ratings suggest underlying confidence in the company's fundamentals, potentially mitigating some of the negative sentiment.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100