Elanco Animal Health Inc. ELAN Stock Analysis

Elanco Animal Health Inc. stock trades under the ticker ELAN, and closed at $29.95/share on 12/16/2020.

ELAN stock is worth taking a closer look at from a short-term trade perspective, as they recently had a bullish MACD crossover – particularly for options traders.

Elanco Animal Health Inc. ELAN Stock Technical Performance For The Last Year

ELAN Stock Price: $29.95

10 Day Moving-Average: $29.35

50 Day Moving-Average: $30.76

200 Day Moving-Average: $25.33

RSI: 50

With an RSI that is even at 50, and the bullish MACD crossover, it looks like ELAN has some room to run.

The $30 calls are at-the-money as of the premarket, with a delta of 0.49, and their $29 calls offer a higher delta at 0.83, with less theta risk at only -0.07 (vs. -0.11 for the $30’s).

From a puts perspective, the $32 & $33 options seem to make the most sense if you’re viewing the December 18th expiration (tomorrow), as they are already in the money.

Looking into January expirations though, there may be some value to the $31 puts while ELAN stock tries to continue climbing, while establishing a trading range.