Eli Lilly Stock Pops on Drug Efficacy for Sleep Apnea

Core Viewpoint - Eli Lilly's weight loss drug Mounjaro has shown positive results in reducing irregular breathing in patients with obstructive sleep apnea, contributing to a 2.8% increase in stock price to $767.65 [1] Stock Performance - The stock is poised to end a four-day losing streak and has a remarkable 106.1% year-over-year gain [1] - Shares reached an all-time high of $800.78 on March 4, with support at the $730 level since early February [1] Options Trading Activity - Short-term options traders are predominantly bullish, with a Schaeffer's put/call open interest ratio (SOIR) of 0.62, ranking in the low 9th percentile of annual readings [1] - Current options volume is double the intraday average, with 10,000 calls and 6,250 puts traded so far [1] - The most active contract is the April 750 put, closely followed by the 470 call in the same series, both set to expire later this week [1]