Eli Lilly (LLY) Offering Possible 41.24% Return Over the Next 23 Calendar Days

Eli Lilly's most recent trend suggests a bearish bias. One trading opportunity on Eli Lilly is a Bear Call Spread using a strike $143.00 short call and a strike $148.00 long call offers a potential 41.24% return on risk over the next 23 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $143.00 by expiration. The full premium credit of $1.46 would be kept by the premium seller. The risk of $3.54 would be incurred if the stock rose above the $148.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Eli Lilly is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Eli Lilly is bearish.

The RSI indicator is at 46.16 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


LATEST NEWS for Eli Lilly

NIAID Study Finds Eli Lilly's Antibody Drug Unhelpful For Hospitalized COVID-19 Patients
Tue, 27 Oct 2020 03:02:56 +0000
Eli Lilly and Company (NYSE: LLY) said Monday that a trial of its antibody treatment for use in hospitalized COVID-19 patients has come to an end as the treatment is unlikely to help such patients. What Happened: The one of its kind study — conducted by the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health — was evaluating the efficacy of bamlanivimab, according to a statement issued by the company.Eli Lilly said that trial data has led to the recommendation that the treatment is unlikely to help hospitalized COVID-19 patients recover from an advanced stage of the disease.Other studies investigating bamlanivimab will continue, including an NIH-sponsored study evaluating the efficacy of the treatment in mild-to-moderate COVID-19 cases and the company's own Phase 2 trial in people recently diagnosed with COVID-19 in a non-hospitalized setting.Why It Matters: The Indianapolis, Indiana-based drug giant said it has submitted for an emergency use authorization for bamlanivimab based on its own Phase 2 trial results.This month, the drugmaker halted the Phase 3 trial of its antibody treatment due to a “potential safety concern.” It was reported earlier that the Eli Lilly plant being readied to make the antibody treatment for COVID-19 was found to have serious quality control problems by the United States Food and Drug Administration.President Donald Trump was administered a similar antibody treatment from Regeneron Pharmaceuticals Inc (NASDAQ: REGN), which he touted as a “cure” for COVID-19.Price Action: Eli Lilly shares closed nearly 0.5% lower at $141.70 on Monday and fell 0.83% in the after-hours session.See more from Benzinga * Click here for options trades from Benzinga * Fauci Says He Was ‘Absolutely Not' Surprised That Trump Got COVID-19 * Regeneron's Inmazeb Becomes First Ebola Treatment To Get FDA Approval(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Eli Lilly and Company – LLY
Tue, 27 Oct 2020 00:00:00 +0000
NEW YORK, Oct. 26, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Eli Lilly and Company (“Eli Lilly” or the “Company”) (NYSE: LLY).   Such investors are advised to contact Robert S. Willoughby at  newaction@pomlaw.com or 888-476-6529, ext. 7980. The investigation concerns whether Eli Lilly and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action]On October 13, 2020. the National Institute of Allergy and Infectious Diseases recommended a pause on the trial evaluating adding Eli Lilly’s antibody-based drug, LY-CoV555, to remdesivir for the treatment of COVID-19.  That same day, Reuters reported that U.S. Food and Drug Administration (“FDA”) inspectors “uncovered serious quality control problems” at the Company’s plant that will manufacture COVID-19 drugs.  The article reported that “[f]ollowing its November inspection, the FDA classified the problems as the most serious level of violation, resulting in an ‘Official Action Indicated’ (OAI) notice.”  Among other violations, the FDA “found that data on the plant’s various manufacturing processes had been deleted and not properly audited.” On this news, Eli Lilly’s stock price fell $4.41 per share, or 2.85%, to close at $150.08 per share on October 13, 2020.The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com 888-476-6529 ext. 7980

Eli Lilly antibody drug fails in a COVID-19 study; other studies go on
Mon, 26 Oct 2020 23:15:00 +0000
U.S. government officials are putting an early end to a study testing an Eli Lilly antibody drug for people hospitalized with COVID-19 because it doesn’t seem to be helping them.

Were Hedge Funds Right About Eli Lilly and Company (LLY)?
Mon, 26 Oct 2020 16:22:58 +0000
Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 823 active prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile […]

Cancer Meeting Could Ignite These Biotech Stocks
Sat, 24 Oct 2020 10:00:00 +0000
Mirati Therapeutics will be widely-watched as it updates Phase 1 results for a lung cancer treatment that would compete against an important product in the pipeline from Amgen. Other early trial results will be reported.

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