Investors with a lot of money to spend have taken a bullish stance on Newmont NEM.
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 NEM, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Newmont.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $73,753, and 14, calls, for a total amount of $2,634,642.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $57.5 for Newmont during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Newmont's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Newmont's substantial trades, within a strike price spectrum from $35.0 to $57.5 over the preceding 30 days.
Newmont Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | TRADE | BEARISH | 01/17/25 | $3.9 | $3.8 | $3.8 | $52.50 | $1.9M | 11.0K | 5.1K |
| NEM | CALL | SWEEP | BULLISH | 06/20/25 | $18.9 | $18.85 | $18.85 | $35.00 | $94.2K | 411 | 100 |
| NEM | CALL | TRADE | BEARISH | 06/20/25 | $18.95 | $18.85 | $18.85 | $35.00 | $94.2K | 411 | 0 |
| NEM | CALL | TRADE | BEARISH | 06/20/25 | $20.25 | $18.75 | $18.75 | $35.00 | $93.7K | 411 | 190 |
| NEM | CALL | SWEEP | BULLISH | 11/21/25 | $6.3 | $6.25 | $6.25 | $57.50 | $82.5K | 28 | 133 |
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.
Newmont's Current Market Status
- Currently trading with a volume of 4,100,993, the NEM's price is down by -0.62%, now at $52.65.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 15 days.
What The Experts Say On Newmont
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $64.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from UBS has decided to maintain their Buy rating on Newmont, which currently sits at a price target of $65. * An analyst from Jefferies has decided to maintain their Buy rating on Newmont, which currently sits at a price target of $63.
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.
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