Investors with a lot of money to spend have taken a bearish stance on Agnico Eagle Mines AEM.
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 AEM, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Agnico Eagle Mines.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 72%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $66,220, and 10, calls, for a total amount of $576,704.
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 $85.0 to $90.0 for Agnico Eagle Mines over the last 3 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 Agnico Eagle Mines'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 Agnico Eagle Mines's whale trades within a strike price range from $85.0 to $90.0 in the last 30 days.
Agnico Eagle Mines Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AEM | CALL | SWEEP | BEARISH | 01/17/25 | $4.4 | $4.2 | $4.22 | $90.00 | $105.2K | 6.9K | 737 |
| AEM | CALL | TRADE | NEUTRAL | 01/17/25 | $4.4 | $4.2 | $4.3 | $90.00 | $101.9K | 6.9K | 1.4K |
| AEM | CALL | SWEEP | BEARISH | 01/17/25 | $4.4 | $4.2 | $4.24 | $90.00 | $84.1K | 6.9K | 537 |
| AEM | PUT | SWEEP | BULLISH | 10/18/24 | $8.8 | $8.6 | $8.6 | $90.00 | $66.2K | 0 | 2 |
| AEM | CALL | SWEEP | BEARISH | 01/17/25 | $4.4 | $4.2 | $4.24 | $90.00 | $63.7K | 6.9K | 451 |
About Agnico Eagle Mines
Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
Following our analysis of the options activities associated with Agnico Eagle Mines, we pivot to a closer look at the company's own performance.
Current Position of Agnico Eagle Mines
- Currently trading with a volume of 452,118, the AEM's price is up by 1.26%, now at $82.5.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 61 days.
Expert Opinions on Agnico Eagle Mines
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $94.0.
- Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Agnico Eagle Mines, targeting a price of $94.
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 Agnico Eagle Mines, 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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