20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Investors with a lot of money to spend have taken a bullish stance on Agnico Eagle Mines (NYSE:AEM).
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 AEM, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 24 options trades for Agnico Eagle Mines.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $44,100, and 23, calls, for a total amount of $1,852,748.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $60.0 for Agnico Eagle Mines during the past quarter.
Volume & Open Interest Development
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 Agnico Eagle Mines'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 Agnico Eagle Mines's whale trades within a strike price range from $30.0 to $60.0 in the last 30 days.
Agnico Eagle Mines Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AEM | CALL | SWEEP | BULLISH | 01/19/24 | $40.00 | $667.5K | 9.3K | 1.0K |
| AEM | CALL | SWEEP | BEARISH | 01/17/25 | $40.00 | $111.0K | 503 | 91 |
| AEM | CALL | SWEEP | BULLISH | 01/19/24 | $40.00 | $88.0K | 9.3K | 305 |
| AEM | CALL | TRADE | BULLISH | 01/19/24 | $40.00 | $81.6K | 9.3K | 120 |
| AEM | CALL | TRADE | BULLISH | 08/16/24 | $50.00 | $72.8K | 5.7K | 1.2K |
About Agnico Eagle Mines
Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.1 million gold ounces in 2022 and had about 15 years of gold reserves at end 2022. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
After a thorough review of the options trading surrounding Agnico Eagle Mines, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Agnico Eagle Mines Standing Right Now?
- With a volume of 1,832,204, the price of AEM is down -1.47% at $49.46.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 29 days.
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 Agnico Eagle Mines options trades with real-time alerts from Benzinga Pro.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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