LLY Stock Inching Towards Record High Ahead of Earnings

Puts are taking off in the options pits

Digital Content Manager
Apr 22, 2020 at 1:49 PM
facebook X logo linkedin

Pharmaceutical concern Eli Lilly and Co (NYSE:LLY) is trading back within a chip shot of its April 20, record closing high of $157.79. The equity is up 2.2% at $156.05 as investors gear up for the company's first-quarter earnings report ahead of the bell, tomorrow April 22. 

The options pits are putting a little less faith in LLY today. So far, 2,033 puts have crossed the tape -- 1.35 times the intraday average -- compared to 1,809 calls. The June 130 put is by far the most popular. This preference for puts is unusual. Looking at the past 10 days, 3,293 calls have exchanged hands, more than doubling the 1,527 puts exchanged in the same two-week period. 

Optimism surrounding LLY is overwhelming, with six of the eight analysts in coverage calling it a "strong buy." There's still room for upgrades and/or price-target hikes, though. Two analysts still give out a tepid "hold," rating, and the consensus 12-month price target of $148.07 is a 5.1% discount to current levels. 



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI