Eli Lilly - Expect Morning Moves Like This. Also Costco and Carvana
I don't like writing blogs about Eli Lilly. Why? Three reasons. It's option premiums are expensive and the stock makes giant moves. The third reason is that I know next to nothing about Eli Lilly's "day-to-day" operating realities. If I guess wrong, yes I say the word guess and I am not apologizing for using it, it's game over. Look at what happened this morning, a Tuesday. It jumped upwards after the opening and then sold off. ... The Puts traded down to $12.64 on the stock's early morning blip upwards and then nearly doubled in price on the ensuing decline. A second chart here below shows that action better. Buy the Puts just after the opening and sell them a few minutes later or wait and sell them at lunchtime. It's not only Eli Lilly that moves like this. Look at Costco today. It also was up on the opening and then tanked. This series of Puts moved up in price. Finally Carvana. The same story. Up on the opening and then tanking. .. If you ar...