Preliminary Late-Stage Study Boosts Eli Lilly Stock

Group 1 - Eli Lilly's weight-loss drug tirzepatide, containing Zepbound and Mounjaro, has shown a 94% reduction in the risk of progression to type 2 diabetes in preliminary late-stage study results [1] - Patients using the drug experienced weight loss ranging from 15% to 23%, depending on the dosage [1] - Following the announcement, Eli Lilly's stock rose by 2.4%, trading at $943.22, recovering from a previous pullback and showing a year-to-date increase of over 61% [1] Group 2 - Short-term options traders have exhibited increased bearish sentiment, with a put/call open interest ratio of 1.07, indicating a higher level of pessimism compared to the past year [1] - There has been a notable shift in sentiment, with 36,000 call options traded today, significantly exceeding the average volume, while only 9,070 puts were traded [2] - The most popular options contract is the weekly 8/23 975-strike call, indicating strong interest in bullish positions [2]