<p>Investors with a lot of money to spend have taken a bearish stance on <strong>Eli Lilly</strong> (NYSE:LLY).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LLY, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, Benzinga's options scanner spotted 33 uncommon options trades for Eli Lilly.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 39% bullish and 42%, bearish.</p>
<p>Out of all of the special options we uncovered, 9 are puts, for a total amount of $1,005,471, and 24 are calls, for a total amount of $1,892,620.</p>
<h3>What's The Price Target?</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $500.0 to $1600.0 for Eli Lilly during the past quarter. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>In today's trading context, the average open interest for options of Eli Lilly stands at 420.12, with a total volume reaching 954.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Eli Lilly, situated within the strike price corridor from $500.0 to $1600.0, throughout the last 30 days.</p>
<h3>Eli Lilly Option Volume And Open Interest Over Last 30 Days</h3>
<p><img src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2026/1767366114_0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Options Call Chart" width="1500" height="800" original-src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2026/1767366114_0.png"/></p>

<h3>Largest Options Trades Observed:</h3>
<p></p><table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th align="right"><strong>Open Interest</strong></th>
<th align="right"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>LLY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/13/26</td>
<td>$13.0</td>
<td>$4.75</td>
<td>$7.65</td>
<td>$910.00</td>
<td>$634.3K</td>
<td align="right">0</td>
<td align="right">805</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$588.0</td>
<td>$580.0</td>
<td>$582.75</td>
<td>$500.00</td>
<td>$291.3K</td>
<td align="right">27</td>
<td align="right">5</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/18/26</td>
<td>$578.05</td>
<td>$571.0</td>
<td>$575.25</td>
<td>$500.00</td>
<td>$287.6K</td>
<td align="right">41</td>
<td align="right">5</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$361.0</td>
<td>$357.4</td>
<td>$361.0</td>
<td>$750.00</td>
<td>$180.5K</td>
<td align="right">376</td>
<td align="right">5</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/18/26</td>
<td>$236.6</td>
<td>$234.6</td>
<td>$236.6</td>
<td>$900.00</td>
<td>$118.3K</td>
<td align="right">162</td>
<td align="right">6</td>
</tr>
</tbody>
</table><p></p>
<h3>About Eli Lilly</h3>
<p>Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.</p>
<p>In light of the recent options history for Eli Lilly, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Present Market Standing of Eli Lilly</h3>
<ul>
<li>With a volume of 331,417, the price of LLY is down -0.98% at $1064.19. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 34 days.</li>
</ul>
<h3>What The Experts Say On Eli Lilly</h3>
<p>In the last month, 3 experts released ratings on this stock with an average target price of $1222.67.</p>
<p><strong>Turn $1000 into $1270 in just 20 days?</strong></p>
<p>20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
* Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Eli Lilly with a target price of $1200. 
* An analyst from BMO Capital persists with their Outperform rating on Eli Lilly, maintaining a target price of $1200. 
* An analyst from B of A Securities persists with their Buy rating on Eli Lilly, maintaining a target price of $1268. </p>
<p>Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.</p>
<p>If you want to stay updated on the latest options trades for Eli Lilly, Benzinga Pro gives you real-time options trades alerts.</p>

<p>Eli Lilly (NYSE: LLY) has seen significant bearish options activity, with 33 unusual trades detected. The sentiment among large investors is split, with 39% bullish and 42% bearish. The total trade amounts to over $2.8 million, with a price target range of $500 to $1600. Currently, LLY's stock is down 0.98% at $1064.19, with analysts giving an average target price of $1222.67. Notable ratings include Overweight from Wells Fargo and Outperform from BMO Capital, both targeting $1200. Options trading carries higher risks but offers greater profit potential.</p>

Behind the Scenes of Eli Lilly's Latest Options Trends