Investors with a lot of money to spend have taken a bullish stance on Barrick Gold GOLD.
And retail traders should know.
We noticed this today when the trades 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 GOLD, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 69% bullish and 23%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $933,893, and 3 are calls, for a total amount of $133,950.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $23.0 for Barrick Gold during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 18577.0 with a total volume of 1,539.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Barrick Gold's big money trades within a strike price range of $15.0 to $23.0 over the last 30 days.
Barrick Gold 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | SWEEP | BULLISH | 12/20/24 | $5.5 | $5.4 | $5.4 | $22.00 | $161.4K | 899 | 300 |
| GOLD | PUT | SWEEP | BULLISH | 02/21/25 | $5.5 | $5.4 | $5.4 | $22.00 | $161.4K | 447 | 0 |
| GOLD | PUT | SWEEP | BULLISH | 02/21/25 | $5.5 | $5.4 | $5.4 | $22.00 | $149.0K | 447 | 299 |
| GOLD | PUT | SWEEP | BULLISH | 12/20/24 | $4.6 | $4.5 | $4.5 | $21.00 | $135.0K | 2 | 300 |
| GOLD | PUT | SWEEP | BULLISH | 12/20/24 | $6.45 | $6.35 | $6.35 | $23.00 | $106.6K | 0 | 300 |
About Barrick Gold
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At year-end 2023, Barrick had about two decades of gold reserves along with significant copper reserves. After buying Randgold in 2019 and combining its Nevada mines in a joint venture with competitor Newmont later that year, it operates mines in 19 countries in the Americas, Africa, the Middle East, and Asia. The company also has growing copper exposure. Its potential Reko Diq project in Pakistan, if developed, could double copper production by the end of the decade.
Where Is Barrick Gold Standing Right Now?
- Currently trading with a volume of 7,516,992, the GOLD's price is down by -0.21%, now at $16.64.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 91 days.
Expert Opinions on Barrick Gold
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $26.0.
- An analyst from BMO Capital persists with their Outperform rating on Barrick Gold, maintaining a target price of $26.
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 Barrick Gold with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
