A Closer Look at Barrick Gold's Options Market Dynamics

Investors with a lot of money to spend have taken a bearish 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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with GOLD, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Barrick Gold.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the options we uncovered, 9 are puts, for a total amount of $514,655, and there was 1 call, for a total amount of $33,500.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $22.0 for Barrick Gold, spanning the last three months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Barrick Gold's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Barrick Gold's substantial trades, within a strike price spectrum from $15.0 to $22.0 over the preceding 30 days.

Barrick Gold 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Following our analysis of the options activities associated with Barrick Gold, we pivot to a closer look at the company's own performance.

Current Position of Barrick Gold

• With a trading volume of 9,658,323, the price of GOLD is down by -0.1%, reaching $15.74.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 47 days from now.

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.