Investors with a lot of money to spend have taken a bullish stance on First Majestic Silver AG.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for First Majestic Silver.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $39,000, and 8, calls, for a total amount of $579,031.
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 $5.0 to $10.0 for First Majestic Silver over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for First Majestic Silver's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across First Majestic Silver's significant trades, within a strike price range of $5.0 to $10.0, over the past month.
First Majestic Silver Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AG | CALL | TRADE | BULLISH | 07/19/24 | $1.3 | $1.28 | $1.3 | $6.00 | $247.0K | 3.9K | 2.0K |
| AG | CALL | SWEEP | BULLISH | 10/18/24 | $0.65 | $0.6 | $0.64 | $9.00 | $86.2K | 1.1K | 1.3K |
| AG | CALL | SWEEP | BULLISH | 06/21/24 | $0.17 | $0.13 | $0.16 | $10.00 | $61.9K | 7.5K | 3.8K |
| AG | CALL | SWEEP | BULLISH | 07/19/24 | $2.19 | $2.12 | $2.19 | $5.00 | $54.7K | 1.0K | 270 |
| AG | CALL | SWEEP | BEARISH | 04/12/24 | $0.42 | $0.27 | $0.26 | $6.50 | $40.0K | 2.6K | 5 |
About First Majestic Silver
First Majestic Silver Corp is engaged in the production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. It owns three producing mines, in Mexico consisting of the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.
Following our analysis of the options activities associated with First Majestic Silver, we pivot to a closer look at the company's own performance.
Where Is First Majestic Silver Standing Right Now?
- With a trading volume of 11,239,030, the price of AG is up by 1.4%, reaching $6.53.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 29 days from now.
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 First Majestic Silver 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.
