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 9 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $174,847 and 6, calls, for a total amount of $390,541.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $65.0 for Newmont, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Newmont stands at 1346.57, with a total volume reaching 2,045.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Newmont, situated within the strike price corridor from $40.0 to $65.0, throughout the last 30 days.
Newmont 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | BULLISH | 03/21/25 | $11.1 | $11.0 | $11.05 | $40.00 | $114.9K | 203 | 134 |
| NEM | CALL | SWEEP | BEARISH | 01/16/26 | $11.65 | $11.4 | $11.4 | $42.50 | $114.0K | 1.6K | 250 |
| NEM | PUT | SWEEP | BEARISH | 10/18/24 | $3.5 | $3.4 | $3.5 | $50.00 | $80.8K | 682 | 231 |
| NEM | PUT | SWEEP | BEARISH | 03/21/25 | $16.85 | $16.75 | $16.85 | $65.00 | $65.7K | 177 | 41 |
| NEM | CALL | SWEEP | BEARISH | 01/16/26 | $11.65 | $11.45 | $11.49 | $42.50 | $57.2K | 1.6K | 150 |
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 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.
In light of the recent options history for Newmont, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Newmont Standing Right Now?
- Currently trading with a volume of 1,170,759, the NEM's price is up by 1.28%, now at $48.32.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 73 days.
What The Experts Say On Newmont
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $57.0.
- An analyst from BMO Capital persists with their Outperform rating on Newmont, maintaining a target price of $57.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Newmont with Benzinga Pro for real-time alerts.
© 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.
