Financial giants have made a conspicuous bearish move on Barrick Gold. Our analysis of options history for Barrick Gold GOLD revealed 17 unusual trades.
Delving into the details, we found 35% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 12 were puts, with a value of $1,000,322, and 5 were calls, valued at $650,860.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $14.0 and $17.0 for Barrick Gold, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Barrick Gold's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Barrick Gold's whale trades within a strike price range from $14.0 to $17.0 in the last 30 days.
Barrick Gold Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | TRADE | BEARISH | 03/15/24 | $15.00 | $359.9K | 15.1K | 26.9K |
| GOLD | CALL | SWEEP | BULLISH | 06/21/24 | $17.00 | $168.0K | 38.2K | 5.4K |
| GOLD | CALL | SWEEP | BULLISH | 06/21/24 | $17.00 | $166.3K | 38.2K | 5.4K |
| GOLD | CALL | SWEEP | BEARISH | 06/21/24 | $17.00 | $163.7K | 38.2K | 3 |
| GOLD | PUT | SWEEP | BULLISH | 06/21/24 | $14.00 | $134.1K | 1.9K | 2.9K |
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.
Current Position of Barrick Gold
- With a volume of 10,165,569, the price of GOLD is up 1.15% at $15.78.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 13 days.
What Analysts Are Saying About Barrick Gold
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $27.0.
- An analyst from BMO Capital has decided to maintain their Outperform rating on Barrick Gold, which currently sits at a price target of $27.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
