Market Whales and Their Recent Bets on LLY Options
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Eli Lilly and Co (NYSE:LLY) through significant options trading activities. Benzinga's options scanner highlighted 79 extraordinary options activities, with 43% of the sentiment being bearish. The major market movers are focusing on a price band between $390.0 and $1000.0 for LLY. Currently, LLY is trading at $839.07, up by 0.88%, with an RSI suggesting it may be overbought. An analyst from Argus Research maintains a Buy rating with a target price of $840.0.
June 06, 2024 | 3:30 pm
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Deep-pocketed investors have shown a bearish sentiment towards Eli Lilly and Co (NYSE:LLY) through significant options trading activities. Benzinga's options scanner highlighted 79 extraordinary options activities, with 43% of the sentiment being bearish. The major market movers are focusing on a price band between $390.0 and $1000.0 for LLY. Currently, LLY is trading at $839.07, up by 0.88%, with an RSI suggesting it may be overbought. An analyst from Argus Research maintains a Buy rating with a target price of $840.0.
The significant bearish sentiment from deep-pocketed investors, as indicated by the options trading activities, suggests a potential short-term downward pressure on LLY's stock price. Despite the current price increase and a Buy rating from an analyst, the overall bearish sentiment and high RSI indicating overbought conditions could lead to a price correction.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100