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.
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 27 options trades for Agnico Eagle Mines.
This isn't normal.
The overall sentiment of these big-money traders is split between 85% bullish and 14%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $32,725, and 26, calls, for a total amount of $1,043,853.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $65.0 for Agnico Eagle Mines over the last 3 months.
Insights into 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 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 activity within a strike price range from $45.0 to $65.0 in the last 30 days.
Agnico Eagle Mines Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AEM | CALL | SWEEP | BULLISH | 05/17/24 | $6.9 | $6.7 | $6.8 | $55.00 | $136.0K | 8.5K | 264 |
| AEM | CALL | SWEEP | BULLISH | 08/16/24 | $5.6 | $5.4 | $5.58 | $60.00 | $80.5K | 2.3K | 766 |
| AEM | CALL | SWEEP | BEARISH | 04/19/24 | $1.7 | $1.55 | $1.55 | $60.00 | $78.2K | 25.9K | 9 |
| AEM | CALL | SWEEP | BULLISH | 08/16/24 | $5.6 | $5.4 | $5.6 | $60.00 | $59.3K | 2.3K | 952 |
| AEM | CALL | SWEEP | BULLISH | 08/16/24 | $5.5 | $5.4 | $5.5 | $60.00 | $54.4K | 2.3K | 1.8K |
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 3.4 million gold ounces in 2023 and had about 15 years of gold reserves at end 2023. 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.
Following our analysis of the options activities associated with Agnico Eagle Mines, we pivot to a closer look at the company's own performance.
Present Market Standing of Agnico Eagle Mines
- Trading volume stands at 1,897,972, with AEM's price down by -2.28%, positioned at $60.79.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 15 days.
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 Agnico Eagle Mines with Benzinga Pro for real-time alerts.
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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!