Deep-pocketed investors have adopted a bearish approach towards Barrick Gold GOLD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GOLD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Barrick Gold. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 5 are puts, totaling $565,100, and 7 are calls, amounting to $284,740.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $13.0 and $20.0 for Barrick Gold, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $13.0 to $20.0 in the last 30 days.
Barrick Gold Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | SWEEP | BEARISH | 01/17/25 | $13.00 | $290.0K | 22.5K | 4.5K |
| GOLD | PUT | SWEEP | BEARISH | 03/28/24 | $14.50 | $100.9K | 181 | 3.5K |
| GOLD | PUT | SWEEP | BEARISH | 01/17/25 | $13.00 | $86.7K | 22.5K | 1.0K |
| GOLD | CALL | SWEEP | BEARISH | 03/15/24 | $15.00 | $51.0K | 19.1K | 3.1K |
| GOLD | PUT | SWEEP | BEARISH | 03/15/24 | $14.50 | $48.3K | 810 | 2.7K |
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 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.
Having examined the options trading patterns of Barrick Gold, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Barrick Gold
- With a volume of 18,022,578, the price of GOLD is up 0.61% at $14.75.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 61 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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