Is the Options Market Predicting a Spike in Elanco Animal Health Stock?

Company Overview - Elanco Animal Health Incorporated (ELAN) is currently experiencing significant activity in the options market, particularly with the Jan 16, 2026 $3.00 Call option showing high implied volatility, indicating potential for a major price movement [1] Market Sentiment - The high implied volatility suggests that investors are anticipating a significant price change for Elanco Animal Health shares, which could be driven by an upcoming event [2][4] - Analysts have a mixed outlook on Elanco, with the company holding a Zacks Rank 3 (Hold) in the Medical - Outpatient and Home Healthcare industry, which is in the top 26% of the Zacks Industry Rank [3] Earnings Estimates - Over the past 60 days, there have been no increases in earnings estimates for the current quarter, while six analysts have lowered their estimates, resulting in a decrease of the Zacks Consensus Estimate from earnings of 25 cents per share to 20 cents [3]