The pharmaceutical company’s stock is trading in an interesting technical pattern.
The world is politically and economically combustible, but most people probably agree on this: You can never be too thin, or too rich.
If that happens, and the world order that was established after WWII breaks, chaos will likely envelope the markets. But, even then, people will likely still agree that you can never be too rich or too thin. The caveat to all that, of course, is that widespread famine or a nuclear disaster does not emerge from the current conflicts.
With Eli Lilly’s stock at $592.33, investors could sell the November $560 put for about $10.50. If the stock is above the strike price at expiration, investors can keep the put premium. The key difference between now and then is that the macro-market picture is dramatically different. So, anyone who considers the Eli Lilly trade is ultimately expressing a view that the obesity drug thesis is so robust that it can withstand whatever struggles emerge in the broad market.
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