Investors with a lot of money to spend have taken a bearish stance on Kinross Gold KGC.
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 KGC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Kinross Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $37,969, and 7, calls, for a total amount of $448,286.
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 $7.0 to $10.0 for Kinross Gold over the last 3 months.
Analyzing 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 Kinross 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 Kinross Gold's whale activity within a strike price range from $7.0 to $10.0 in the last 30 days.
Kinross Gold Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KGC | CALL | TRADE | BEARISH | 11/15/24 | $0.54 | $0.51 | $0.51 | $10.00 | $153.0K | 6.3K | 883 |
| KGC | CALL | SWEEP | BEARISH | 11/15/24 | $0.53 | $0.51 | $0.51 | $10.00 | $101.4K | 6.3K | 4.8K |
| KGC | CALL | TRADE | BEARISH | 11/15/24 | $0.54 | $0.51 | $0.51 | $10.00 | $51.0K | 6.3K | 3.8K |
| KGC | CALL | SWEEP | BEARISH | 11/15/24 | $0.92 | $0.9 | $0.9 | $9.00 | $45.0K | 5.5K | 58 |
| KGC | CALL | TRADE | BEARISH | 11/15/24 | $0.56 | $0.53 | $0.53 | $10.00 | $39.0K | 6.3K | 146 |
About Kinross Gold
Kinross Gold is a Canada-based gold producer, producing roughly 2.2 million gold equivalent ounces in 2023. The company had about a decade of gold reserves at the end of 2023. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. The company has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada, which, if developed, could produce an average of more than 500,000 ounces of gold per year for at least a decade.
Following our analysis of the options activities associated with Kinross Gold, we pivot to a closer look at the company's own performance.
Where Is Kinross Gold Standing Right Now?
- Currently trading with a volume of 7,070,312, the KGC's price is up by 1.28%, now at $9.06.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 20 days.
Professional Analyst Ratings for Kinross Gold
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $12.0.
- Maintaining their stance, an analyst from CIBC continues to hold a Outperformer rating for Kinross Gold, targeting a price of $12.
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 Kinross 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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