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 bearish 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 9 options trades for Agnico Eagle Mines.
This isn't normal.
The overall sentiment of these big-money traders is split between 11% bullish and 88%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $36,639, and 8, calls, for a total amount of $1,301,000.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $65.0 for Agnico Eagle Mines, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Agnico Eagle Mines's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Agnico Eagle Mines's substantial trades, within a strike price spectrum from $50.0 to $65.0 over the preceding 30 days.
Agnico Eagle Mines 30-Day Option Volume & Interest Snapshot
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 | NEUTRAL | 01/17/25 | $14.4 | $14.1 | $14.2 | $50.00 | $568.0K | 7.1K | 500 |
| AEM | CALL | SWEEP | BEARISH | 01/17/25 | $15.4 | $13.9 | $14.0 | $50.00 | $560.0K | 7.1K | 900 |
| AEM | PUT | SWEEP | BEARISH | 08/16/24 | $3.7 | $3.6 | $3.7 | $60.00 | $36.6K | 961 | 6 |
| AEM | CALL | SWEEP | BULLISH | 08/16/24 | $3.1 | $3.0 | $3.1 | $65.00 | $31.0K | 4.5K | 197 |
| AEM | CALL | TRADE | BEARISH | 01/17/25 | $16.2 | $14.7 | $14.7 | $50.00 | $29.4K | 7.1K | 0 |
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.
In light of the recent options history for Agnico Eagle Mines, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Agnico Eagle Mines's Current Market Status
- Trading volume stands at 917,944, with AEM's price up by 0.9%, positioned at $62.0.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 10 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.
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