27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Whales with a lot of money to spend have taken a noticeably bearish stance on Newmont.
Looking at options history for Newmont (NYSE:NEM) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $507,877 and 7, calls, for a total amount of $556,348.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $40.0 for Newmont over the recent three 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 Newmont'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 Newmont's whale activity within a strike price range from $20.0 to $40.0 in the last 30 days.
Newmont Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NEM | PUT | SWEEP | BULLISH | 06/21/24 | $30.00 | $191.2K | 16.0K | 2.1K |
| NEM | PUT | SWEEP | BEARISH | 04/19/24 | $32.50 | $182.9K | 458 | 1.8K |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $37.50 | $167.9K | 2.7K | 461 |
| NEM | CALL | TRADE | BULLISH | 03/15/24 | $35.00 | $135.0K | 10.6K | 0 |
| NEM | CALL | SWEEP | BEARISH | 01/17/25 | $37.50 | $103.6K | 2.7K | 758 |
About Newmont
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 7.3 million ounces of gold in 2023 pro forma for Newcrest on an annualized basis. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts from its various gold mines. It had about two decades of gold reserves along with significant byproduct reserves after acquiring Newcrest.
Having examined the options trading patterns of Newmont, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Newmont
- Trading volume stands at 5,203,644, with NEM's price up by 0.9%, positioned at $34.82.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 22 days.
What Analysts Are Saying About Newmont
2 market experts have recently issued ratings for this stock, with a consensus target price of $52.5.
- Maintaining their stance, an analyst from BMO Capital continues to hold a Outperform rating for Newmont, targeting a price of $59.
- An analyst from TD Securities has revised its rating downward to Hold, adjusting the price target to $46.
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 Newmont options trades with real-time alerts from Benzinga Pro.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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