Investors with a lot of money to spend have taken a bullish stance on Barrick Gold GOLD.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GOLD, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $718,080, and 3 are calls, for a total amount of $303,140.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $21.0 for Barrick Gold over the last 3 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 Barrick Gold'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 Barrick Gold's whale trades within a strike price range from $15.0 to $21.0 in the last 30 days.
Barrick Gold Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | TRADE | BULLISH | 01/17/25 | $0.93 | $0.88 | $0.89 | $15.00 | $178.0K | 45.0K | 58 |
| GOLD | CALL | SWEEP | BEARISH | 01/16/26 | $1.71 | $1.7 | $1.7 | $20.00 | $170.3K | 20.4K | 19 |
| GOLD | PUT | SWEEP | BULLISH | 02/21/25 | $5.05 | $4.95 | $4.95 | $21.00 | $148.5K | 3 | 300 |
| GOLD | PUT | SWEEP | BULLISH | 02/21/25 | $5.0 | $4.9 | $4.9 | $21.00 | $139.6K | 3 | 624 |
| GOLD | PUT | SWEEP | BULLISH | 02/21/25 | $5.0 | $4.9 | $4.9 | $21.00 | $128.8K | 3 | 360 |
About Barrick Gold
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
In light of the recent options history for Barrick Gold, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Barrick Gold's Current Market Status
- Currently trading with a volume of 8,837,646, the GOLD's price is down by -2.4%, now at $16.05.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 56 days.
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 Barrick Gold options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
