Barrick Gold Options Trading: A Deep Dive into Market Sentiment

Whales with a lot of money to spend have taken a noticeably bullish stance on Barrick Gold.

Looking at options history for Barrick Gold GOLD we detected 22 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 36% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $139,350 and 20, calls, for a total amount of $1,561,755.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $13.0 and $21.0 for Barrick Gold, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Barrick Gold's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Barrick Gold's substantial trades, within a strike price spectrum from $13.0 to $21.0 over the preceding 30 days.

Barrick Gold Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
GOLD CALL SWEEP BEARISH 11/15/24 $1.91 $1.8 $1.9 $16.00 $190.0K 615 1.0K
GOLD CALL TRADE BULLISH 01/16/26 $4.2 $4.05 $4.2 $15.00 $159.6K 15.5K 478
GOLD CALL SWEEP BEARISH 08/16/24 $1.18 $1.17 $1.17 $17.00 $117.1K 4.9K 1.1K
GOLD CALL SWEEP BULLISH 11/15/24 $0.72 $0.7 $0.72 $20.00 $97.9K 5.7K 1.3K
GOLD CALL SWEEP NEUTRAL 07/19/24 $0.91 $0.9 $0.91 $17.00 $85.4K 5.6K 3.2K

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.

After a thorough review of the options trading surrounding Barrick Gold, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Barrick Gold Standing Right Now?

  • Trading volume stands at 16,382,352, with GOLD's price up by 3.5%, positioned at $17.29.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 61 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 Barrick Gold with Benzinga Pro for real-time alerts.

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Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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