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 14 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 42%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $420,233, and 8 are calls, for a total amount of $354,100.
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 $25.0 for Barrick Gold over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Barrick Gold's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Barrick Gold's substantial trades, within a strike price spectrum from $10.0 to $25.0 over the preceding 30 days.
Barrick Gold 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | TRADE | BULLISH | 03/21/25 | $2.27 | $2.24 | $2.25 | $21.00 | $225.0K | 677 | 1.0K |
| GOLD | CALL | TRADE | BEARISH | 04/17/25 | $9.85 | $9.8 | $9.8 | $10.00 | $86.2K | 201 | 100 |
| GOLD | PUT | SWEEP | BEARISH | 12/20/24 | $1.88 | $1.82 | $1.88 | $21.00 | $56.4K | 2.1K | 313 |
| GOLD | CALL | SWEEP | BULLISH | 11/01/24 | $0.27 | $0.25 | $0.27 | $20.00 | $54.0K | 1.2K | 2.1K |
| GOLD | CALL | TRADE | NEUTRAL | 01/16/26 | $2.68 | $2.26 | $2.46 | $22.00 | $49.2K | 6.4K | 200 |
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.
Present Market Standing of Barrick Gold
- Trading volume stands at 13,129,133, with GOLD's price down by -1.62%, positioned at $19.99.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 13 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. * An analyst from UBS has decided to maintain their Buy rating on Barrick Gold, which currently sits at a price target 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.
© 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.
