I have an innate disdain for all pharmaceutical companies. They strike me as corrupt, bloated, and criminal beneficiaries of government stupidity. One of the biggest is Eli Lilly (LLY) which, as you can see from the long-term chart below, has done quite well sucking town hundreds of billions from the nitwitted government that showers them with cash every second of the day.
I bought puts against them yesterday, partly because the chart was so elevated, but mostly out of raw hatred. So far, so good.
By the way, if you think an ancient, lumbering gastropod of a company like this is valued in thrifty terms, think again. Their P/E suggests they’re on the cusp of curing every disease known to mankind. I hope they get obliterated, and my January $620 puts are cheering their demise. (Up 22.4% since yesterday).
