Eli Lilly (LLY) Offering Possible 15.21% Return Over the Next 19 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 $60.00 short call and a strike $65.00 long call offers a potential 15.21% return on risk over the next 19 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $60.00 by expiration. The full premium credit of $0.66 would be kept by the premium seller. The risk of $4.34 would be incurred if the stock rose above the $65.00 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 50.67 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Eli Lilly

Boehringer fixes factory, clearing way for new approval request
Tue, 03 Jun 2014 09:53:22 GMT
Reuters – UK Focus – Eli Lilly's partner in a diabetes alliance, Boehringer Ingelheim, said that U.S. regulators had given it the go-ahead for a German plant after solving quality problems, paving the way for a renewed request for approval of a drug. The U.S. Food and Drug Administration in March declined to approve Lilly and Boehringer's experimental diabetes drug empagliflozin, citing manufacturing problems at Boehringer's headquarters, where it would be made. Boehringer on Tuesday said it was told by the FDA that based on a March inspection, the facility's quality management and compliance systems were found to be acceptable again. The FDA issued a warning letter in May 2013 citing problems it found at the Boehringer plant during an inspection six months earlier.

Eli Lilly reports CYRAMZA significantly improves survival in Phase 3 study
Mon, 02 Jun 2014 22:32:56 GMT

6:31 pm Eli Lilly announces CYRAMZA (ramucirumab) significantly improves overall survival in Phase 3 non-small cell lung cancer study
Mon, 02 Jun 2014 22:31:00 GMT

Lilly's CYRAMZA™ (ramucirumab) Significantly Improves Overall Survival In Phase III Non-Small Cell Lung Cancer Study
Mon, 02 Jun 2014 22:30:00 GMT
PR Newswire – CHICAGO, June 2, 2014 /PRNewswire/ — Eli Lilly and Company (NYSE: LLY) today announced detailed results from REVEL, a global Phase III study of CYRAMZA ™ (ramucirumab) in combination with chemotherapy …

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