Financial giants have made a conspicuous bearish move on Newmont. Our analysis of options history for Newmont NEM revealed 16 unusual trades.
Delving into the details, we found 43% of traders were bullish, while 56% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $417,671, and 8 were calls, valued at $547,600.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $27.5 and $47.5 for Newmont, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Newmont's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Newmont's significant trades, within a strike price range of $27.5 to $47.5, over the past month.
Newmont Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | TRADE | BULLISH | 01/17/25 | $6.5 | $6.4 | $6.48 | $35.00 | $129.6K | 6.9K | 210 |
| NEM | CALL | TRADE | BEARISH | 06/21/24 | $0.44 | $0.41 | $0.41 | $47.50 | $128.8K | 7.8K | 3.2K |
| NEM | PUT | SWEEP | BEARISH | 01/17/25 | $0.85 | $0.84 | $0.84 | $27.50 | $105.7K | 13.8K | 1.2K |
| NEM | CALL | TRADE | BULLISH | 01/17/25 | $9.5 | $9.5 | $9.5 | $30.00 | $95.0K | 3.5K | 0 |
| NEM | PUT | SWEEP | BULLISH | 06/21/24 | $10.15 | $10.05 | $10.05 | $47.50 | $72.3K | 32 | 2 |
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 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at end December 2023.
In light of the recent options history for Newmont, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Newmont
- Trading volume stands at 6,062,414, with NEM's price down by -0.27%, positioned at $38.34.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 9 days.
What Analysts Are Saying About Newmont
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $45.0.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Newmont, targeting a price of $45.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Newmont, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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