High-rolling investors have positioned themselves bullish on Agnico Eagle Mines AEM, 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 AEM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 20 options trades for Agnico Eagle Mines. This is not a typical pattern.
The sentiment among these major traders is split, with 65% bullish and 35% bearish. Among all the options we identified, there was one put, amounting to $26,880, and 19 calls, totaling $4,510,794.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $70.0 for Agnico Eagle Mines over the last 3 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 Agnico Eagle Mines's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Agnico Eagle Mines's substantial trades, within a strike price spectrum from $50.0 to $70.0 over the preceding 30 days.
Agnico Eagle Mines Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AEM | CALL | SWEEP | BULLISH | 01/17/25 | $14.5 | $14.3 | $14.4 | $50.00 | $966.2K | 11.7K | 1.8K |
| AEM | CALL | SWEEP | NEUTRAL | 01/17/25 | $14.4 | $14.1 | $14.1 | $50.00 | $847.4K | 11.7K | 535 |
| AEM | CALL | SWEEP | NEUTRAL | 01/17/25 | $14.1 | $13.8 | $13.9 | $50.00 | $736.7K | 11.7K | 535 |
| AEM | CALL | SWEEP | BEARISH | 08/16/24 | $12.9 | $12.0 | $12.1 | $50.00 | $435.6K | 4.4K | 340 |
| AEM | CALL | SWEEP | BULLISH | 08/16/24 | $12.3 | $12.3 | $12.3 | $50.00 | $369.0K | 4.4K | 300 |
About Agnico Eagle Mines
Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
Following our analysis of the options activities associated with Agnico Eagle Mines, we pivot to a closer look at the company's own performance.
Where Is Agnico Eagle Mines Standing Right Now?
- Currently trading with a volume of 4,271,733, the AEM's price is up by 1.34%, now at $60.45.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 24 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 Agnico Eagle Mines 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.
