Investors with a lot of money to spend have taken a bullish 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 8 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $52,750, and 6 are calls, for a total amount of $207,605.
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 $13.0 to $19.0 for Barrick Gold during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 15933.86 with a total volume of 1,398.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Barrick Gold's big money trades within a strike price range of $13.0 to $19.0 over the last 30 days.
Barrick Gold Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GOLD | CALL | SWEEP | BEARISH | 12/29/23 | $17.50 | $47.3K | 1.7K | 592 |
| GOLD | CALL | SWEEP | BEARISH | 12/29/23 | $17.50 | $46.5K | 1.7K | 70 |
| GOLD | CALL | SWEEP | BEARISH | 01/19/24 | $17.00 | $32.8K | 55.7K | 251 |
| GOLD | CALL | SWEEP | BULLISH | 03/15/24 | $16.00 | $27.8K | 10.5K | 105 |
| GOLD | CALL | TRADE | NEUTRAL | 01/19/24 | $13.00 | $27.5K | 4.4K | 1 |
About Barrick Gold
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2022, the firm produced nearly 4.1 million attributable ounces of gold and about 440 million pounds of copper. At end 2022, 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.
In light of the recent options history for Barrick Gold, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Barrick Gold
- With a volume of 4,294,436, the price of GOLD is up 0.44% at $18.25.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 49 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Barrick Gold options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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