Investors with a lot of money to spend have taken a bearish 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 9 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $120,770, and 7 are calls, for a total amount of $462,736.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $19.0 for Barrick Gold during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Barrick Gold's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Barrick Gold's significant trades, within a strike price range of $15.0 to $19.0, over the past month.
Barrick Gold Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | CALL | TRADE | BEARISH | 02/21/25 | $0.82 | $0.77 | $0.77 | $19.00 | $154.0K | 4.1K | 2.0K |
| GOLD | CALL | SWEEP | BEARISH | 03/21/25 | $3.5 | $3.15 | $3.2 | $15.00 | $93.1K | 1.9K | 0 |
| GOLD | PUT | TRADE | BULLISH | 11/22/24 | $0.16 | $0.13 | $0.13 | $17.50 | $90.1K | 1.0K | 10.9K |
| GOLD | CALL | SWEEP | BULLISH | 12/20/24 | $1.15 | $1.15 | $1.15 | $17.00 | $61.8K | 5.8K | 986 |
| GOLD | CALL | SWEEP | BULLISH | 12/20/24 | $1.15 | $1.14 | $1.15 | $17.00 | $53.8K | 5.8K | 476 |
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.
Where Is Barrick Gold Standing Right Now?
- Currently trading with a volume of 10,560,127, the GOLD's price is up by 1.26%, now at $17.94.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 84 days.
What The Experts Say On Barrick Gold
In the last month, 2 experts released ratings on this stock with an average target price of $23.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Barrick Gold, which currently sits at a price target of $24. * In a cautious move, an analyst from UBS downgraded its rating to Neutral, setting a price target of $22.
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 Barrick Gold with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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