Market Whales and Their Recent Bets on GOLD Options

Investors with a lot of money to spend have taken a bullish 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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with GOLD, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 26 uncommon options trades for Barrick Gold.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $547,831, and 17 are calls, for a total amount of $713,965.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $22.0 for Barrick Gold during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Barrick Gold's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Barrick Gold's significant trades, within a strike price range of $10.0 to $22.0, over the past month.

Barrick Gold 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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 year-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.

After a thorough review of the options trading surrounding Barrick Gold, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Barrick Gold

• With a volume of 16,552,829, the price of GOLD is up 2.61% at $20.23.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 73 days.

Expert Opinions on Barrick Gold

1 market experts have recently issued ratings for this stock, with a consensus target price of $25.0.

• An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Barrick Gold, which currently sits at a price target of $25.

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.