Eli Lilly Stock Cools Despite Big Cancer Investment

LLY boasts a 64.2% year-over-year lead

Digital Content Manager
Oct 3, 2023 at 10:43 AM
facebook X logo linkedin


Eli Lilly And Co (NYSE: LLY) stock is down 2.5% to trade at $525.97 at last check, after the pharma company announced the acquisition of Point Biopharma Global (PNT) for $1.4 billion in an all-cash deal, or roughly $12.50 per share. The acquisition gives Eli Lilly access to the latter's experimental radioligand therapies that target cancer.

LLY shares are trading at their lowest level since mid-August, after pulling back 13% from their Sept. 14, all-time high of $601.76. The 60-day moving average looks ready to contain today's dip, however, and the stock remains up 44.3% in 2023, while also boasting a 64.2% year-over-year lead.

Short-term options traders aren't even fazed.  Eli Lilly stock's Schaeffer's put/call open interest ratio (SOIR) of 0.83 ranks lower than all readings from the past 12 months. indicating that such a call open interest skew is rare in the last year.

Now looks like a great opportunity to weigh in on LLY's next move with options, per the security's Schaeffer's Volatility Scorecard (SVS), which sits at an elevated 76 out of 100, suggesting it has exceeded option traders' volatility expectations during the past year. 

 

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