Eli Lilly and Company (LLY) currently has an IV rank of 18%, which measures where current implied volatility sits relative to its 52-week range.

What is LLY max pain?

LLY max pain for the nearest expiration is $975.00. Max pain is the strike price where option holders collectively lose the most money at expiration.

What is LLY expected move?

LLY expected move for the nearest expiration is ±2.4%, derived from options pricing.

Home Options LLYOverview

LLY

Eli Lilly and CompanyClose $1018.87EOD only

Max Pain

$975.00

Next expiry May 22, 2026

Expected Move

±$24.27

2.4% from close

Price Gap

-43.87

Distance to max pain

IV Rank

Low premium

P/C OI

1.23

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

This page reflects LLY options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 20, 2026 close

Need trigger, invalidation, and structure from this setup?

Open Available Reports (4/4)

GEX PositiveDEX LongNet Call Premium

Max Pain BelowExp. Move ModerateHigh Put/Call+1

Gamma Exposure (GEX)

Delta Exposure (DEX)

Expected Move by Expiration

Expiration	DTE	Expected Move	Move %	Lower	Upper
2026-05-22	2	±$24.27	±2.4%	$994.59	$1043.14
2026-05-29	9	±$41.12	±4.0%	$977.74	$1059.99
2026-06-05	16	±$54.85	±5.4%	$964.02	$1073.72
2026-06-12	23	±$68.67	±6.7%	$950.19	$1087.54
2026-06-18	29	±$77.30	±7.6%	$941.57	$1096.17
2026-06-26	37	±$86.55	±8.5%	$932.32	$1105.42

Signals

GEX PositiveDEX LongNet Call Premium

Max Pain BelowExp. Move ModerateHigh Put/Call+1

Quick Stats

Total GEX$12.4M

Total DEX$6.9M

Net Premium$51.5M

Max Pain (nearest)$975.00

Key Levels

52-Week Low$620.46

200 DMA$922.49

50 DMA$940.21

100 DMA$992.44

52-Week High$1132.06

Upcoming Events

Earnings2026-08-05

Consensus

**Primary thesis: Neutral-to-bearish multi-week drift toward $890, anchored by a near-term pin at $920.** The regime favors **directional plays and volatility decay strategies** over range-bound trades. Top plays: 1) **Bear put spread** for defined-risk bearish exposure, 2) **Reverse calendar** to harvest rich front-week vol, 3) **45 DTE covered call** for stock owners to generate income against resistance. Invalidation for the bearish drift is a close above $920. Limited coverage: 4/4 persona reports available.

Limited coverage (4/4 personas).

Open Consensus→

Strongest Signal: GEX Positive
Total GEX: $0.01B
Total DEX: $6.9M
Expected Move: ±2.4%
Put/Call OI: 1.23
Near Max Pain: $975.00
Flow Tilt: Call-heavy $51.5M
Spot Price: $1018.87

How to Use This Overview

This page compresses the latest market-close snapshot into one high-level decision surface.

What it summarizes

Overview pulls the main options context into one place: dealer positioning, volatility, expected move, max pain, and current report coverage.

Where traders usually go next

Use the chain when you need contract selection, dealer exposure when you want positioning context, and reports when you want a structured setup with entry and risk context.

What to remember

This is a market-close snapshot, so the hierarchy can drift intraday when spot, IV, or headline risk moves quickly.

Treat this page like a map of the close, not a live execution dashboard.

LLY

Gamma Exposure (GEX)

Delta Exposure (DEX)

Expected Move by Expiration

LLY Quick Anchors