Whales with a lot of money to spend have taken a noticeably bearish stance on Newmont.
Looking at options history for Newmont NEM we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 23% of the investors opened trades with bullish expectations and 76% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $799,593 and 5, calls, for a total amount of $167,150.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $45.0 for Newmont, spanning the last three months.
Analyzing Volume & Open Interest
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 Newmont'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 Newmont's whale trades within a strike price range from $30.0 to $45.0 in the last 30 days.
Newmont Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NEM | PUT | TRADE | BEARISH | 01/16/26 | $35.00 | $418.7K | 1.1K | 0 |
| NEM | CALL | TRADE | BEARISH | 06/21/24 | $42.50 | $92.0K | 7.6K | 302 |
| NEM | PUT | SWEEP | BEARISH | 04/19/24 | $37.50 | $86.9K | 1.2K | 192 |
| NEM | PUT | SWEEP | BEARISH | 01/17/25 | $45.00 | $86.2K | 5.8K | 93 |
| NEM | PUT | TRADE | BEARISH | 01/16/26 | $30.00 | $81.9K | 836 | 200 |
About Newmont
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 7.3 million ounces of gold in 2023 pro forma for Newcrest on an annualized basis. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts from its various gold mines. It had about two decades of gold reserves along with significant byproduct reserves after acquiring Newcrest.
Following our analysis of the options activities associated with Newmont, we pivot to a closer look at the company's own performance.
Present Market Standing of Newmont
- Trading volume stands at 4,361,434, with NEM's price down by -2.6%, positioned at $33.52.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 17 days.
Professional Analyst Ratings for Newmont
In the last month, 2 experts released ratings on this stock with an average target price of $52.5.
- An analyst from TD Securities downgraded its action to Hold with a price target of $46.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Newmont, targeting a price of $59.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Newmont options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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