Agree To Purchase Eli Lilly At $490, Earn 5.9% Using Options

Investors eyeing a purchase of Eli Lilly (LLY) shares, but tentative about paying the going market price of $774.62/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the December 2026 put at the $490 strike, which has a bid at the time of this writing of $29.00..