Barrick Gold's Options: A Look at What the Big Money is Thinking

High-rolling investors have positioned themselves bullish on Barrick Gold GOLD, 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 GOLD often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 15 options trades for Barrick Gold. This is not a typical pattern.

The sentiment among these major traders is split, with 40% bullish and 40% bearish. Among all the options we identified, there was one put, amounting to $45,630, and 14 calls, totaling $1,001,238.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $22.0 for Barrick Gold over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Barrick 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 Barrick Gold's whale trades within a strike price range from $10.0 to $22.0 in the last 30 days.

Barrick Gold Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

In light of the recent options history for Barrick Gold, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Barrick Gold

• Trading volume stands at 18,392,655, with GOLD's price up by 0.35%, positioned at $20.28.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 22 days.

Expert Opinions on Barrick Gold

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $23.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Barrick Gold with a target price of $23.

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.