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 positions 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.
Today, Benzinga's options scanner spotted 8 options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $609,000, and 7, calls, for a total amount of $444,838.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $37.0 for Barrick Gold, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Barrick Gold stands at 44247.67, with a total volume reaching 1,132.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Barrick Gold, situated within the strike price corridor from $15.0 to $37.0, throughout the last 30 days.
Barrick Gold Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | SWEEP | NEUTRAL | 01/16/26 | $20.35 | $20.3 | $20.3 | $37.00 | $609.0K | 0 | 0 |
| GOLD | CALL | TRADE | BEARISH | 01/17/25 | $1.65 | $1.59 | $1.59 | $17.00 | $153.7K | 61.8K | 344 |
| GOLD | CALL | SWEEP | BULLISH | 07/19/24 | $0.4 | $0.38 | $0.4 | $17.00 | $80.0K | 14.8K | 585 |
| GOLD | CALL | TRADE | BULLISH | 08/02/24 | $0.41 | $0.38 | $0.4 | $17.50 | $76.2K | 311 | 0 |
| GOLD | CALL | SWEEP | BEARISH | 01/17/25 | $1.63 | $1.6 | $1.6 | $17.00 | $46.4K | 61.8K | 41 |
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.
After a thorough review of the options trading surrounding Barrick Gold, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Barrick Gold's Current Market Status
- Trading volume stands at 10,422,057, with GOLD's price down by -0.48%, positioned at $16.64.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 42 days.
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 Barrick Gold, 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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