Deep-pocketed investors have adopted a bearish approach towards Hecla Mining HL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Hecla Mining. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 0% leaning bullish and 100% bearish. Among these notable options, 5 are puts, totaling $291,252, and 4 are calls, amounting to $142,794.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $6.0 for Hecla Mining over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Hecla Mining's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Hecla Mining's whale trades within a strike price range from $5.0 to $6.0 in the last 30 days.
Hecla Mining 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HL | PUT | SWEEP | BEARISH | 06/21/24 | $0.38 | $0.37 | $0.38 | $5.00 | $95.2K | 2.4K | 4.9K |
| HL | PUT | SWEEP | BEARISH | 06/21/24 | $0.39 | $0.38 | $0.39 | $5.00 | $78.2K | 2.4K | 3 |
| HL | PUT | SWEEP | BEARISH | 06/21/24 | $0.37 | $0.36 | $0.37 | $5.00 | $54.7K | 2.4K | 8.0K |
| HL | CALL | SWEEP | BEARISH | 06/21/24 | $0.18 | $0.16 | $0.16 | $6.00 | $40.2K | 13.0K | 352 |
| HL | PUT | SWEEP | BEARISH | 06/21/24 | $0.38 | $0.36 | $0.38 | $5.00 | $38.0K | 2.4K | 6.0K |
About Hecla Mining
Hecla Mining Co produces and explores silver, gold, zinc and other metals. The operating business segments are Greens Creek, Lucky Friday, Keno Hill, Casa Berardi, and Nevada Operations. It generates maximum revenue from the Greens Creek segment. Geographically, It operates in Canada , United States and Mexico and it derives a majority of its revenue from United States.
After a thorough review of the options trading surrounding Hecla Mining, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Hecla Mining Standing Right Now?
- With a volume of 5,163,132, the price of HL is down -4.01% at $5.03.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 13 days.
What The Experts Say On Hecla Mining
1 market experts have recently issued ratings for this stock, with a consensus target price of $6.0.
- An analyst from Roth MKM has decided to maintain their Buy rating on Hecla Mining, which currently sits at a price target of $6.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Hecla Mining, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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