High-rolling investors have positioned themselves bearish on Barrick Gold GOLD, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GOLD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Barrick Gold. This is not a typical pattern.
The sentiment among these major traders is split, with 33% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $33,304, and 8 calls, totaling $1,023,617.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $22.0 for Barrick Gold during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Barrick Gold stands at 18377.5, with a total volume reaching 13,900.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Barrick Gold, situated within the strike price corridor from $10.0 to $22.0, throughout the last 30 days.
Barrick Gold Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GOLD | CALL | TRADE | BULLISH | 01/17/25 | $20.00 | $201.0K | 49.1K | 1.5K |
| GOLD | CALL | SWEEP | BULLISH | 09/20/24 | $17.00 | $197.0K | 518 | 1.0K |
| GOLD | CALL | SWEEP | BEARISH | 09/20/24 | $17.00 | $195.4K | 518 | 3.0K |
| GOLD | CALL | SWEEP | BEARISH | 09/20/24 | $17.00 | $170.4K | 518 | 5.1K |
| GOLD | CALL | TRADE | NEUTRAL | 09/20/24 | $17.00 | $148.5K | 518 | 2.0K |
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.
Present Market Standing of Barrick Gold
- With a volume of 10,057,387, the price of GOLD is up 0.52% at $17.43.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 34 days.
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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