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Look At How Eli Lilly Tanked On The Opening

Here is it's chart.
Can you see how much it dropped? Here is what one series of Calls and Puts did. First the Calls.
Notice the light trading. Now the Puts.
The Puts on the opening never traded at lower prices than this one lonely trade. The Bids and Asks would have dropped after this trade happened however there were no takers, partly because there was a built in expectation that the stock might rebound upwards again. Now let's push forward. Here is what it's five day chart looked like at the close of the day.
So the chart looks like a mess with a step down formation. It is going to take some good news to prompt it back up again. Here is how this one series closed the day. I would expect another drop on the opening. I wouldn't be buying into it, I would be selling out of it. This chart means trouble. That brings us back again looking at the 1,062.50 Puts. Here is how they closed. This type of chart formation can still repeat itself for another couple of days.
The reality of stocks in the $1,000.00 dollar range is that they cn go up or down $25.00 in one day. Costco and Eli Lilly often do. This is why these option premiums are so expensive. It will be interesting to see what happens next and I note so few option traders find value in trading them. Now this.
let's see what happens tomorrow.

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