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 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 NEM, 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 17 uncommon options trades for Newmont.
This isn't normal.
The overall sentiment of these big-money traders is split between 70% bullish and 29%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $878,860, and 13 are calls, for a total amount of $1,463,819.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $60.0 for Newmont over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Newmont options trades today is 3719.23 with a total volume of 6,237.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Newmont's big money trades within a strike price range of $25.0 to $60.0 over the last 30 days.
Newmont Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | PUT | SWEEP | BEARISH | 01/17/25 | $7.15 | $7.05 | $7.11 | $45.00 | $498.8K | 7.8K | 700 |
| NEM | CALL | SWEEP | BEARISH | 01/16/26 | $6.05 | $6.0 | $6.0 | $37.50 | $300.0K | 10.1K | 5 |
| NEM | PUT | SWEEP | BULLISH | 11/21/25 | $5.75 | $5.65 | $5.65 | $40.00 | $282.5K | 689 | 500 |
| NEM | CALL | SWEEP | BULLISH | 12/19/25 | $8.55 | $8.5 | $8.55 | $32.50 | $210.3K | 3 | 248 |
| NEM | CALL | SWEEP | BULLISH | 10/17/25 | $6.75 | $6.65 | $6.75 | $35.00 | $201.8K | 1 | 300 |
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 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It 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.
Having examined the options trading patterns of Newmont, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Newmont
- Currently trading with a volume of 2,962,708, the NEM's price is down by -0.38%, now at $37.95.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 55 days.
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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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