What Are Whales Doing With Newmont

What Are Whales Doing With Newmont

Someone with a lot of money to spend has taken a bearish stance on Newmont NEM.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NEM, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for Newmont.

This isn't normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $32,690, and 12, calls, for a total amount of $871,447..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $72.5 to $100.0 for Newmont over the last 3 months.

Volume & Open Interest Development

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 Newmont'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 Newmont's whale activity within a strike price range from $72.5 to $100.0 in the last 30 days.

Newmont Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NEM CALL TRADE NEUTRAL 06/17/22 $72.50 $171.0K 4.5K 150
NEM CALL TRADE BULLISH 06/17/22 $72.50 $171.0K 4.5K 150
NEM CALL TRADE BEARISH 05/20/22 $75.00 $86.9K 988 124
NEM CALL TRADE BEARISH 05/20/22 $75.00 $77.5K 988 348
NEM CALL SWEEP BEARISH 05/20/22 $75.00 $76.4K 988 237

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NEM CALL TRADE NEUTRAL 06/17/22 $72.50 $171.0K 4.5K 150
NEM CALL TRADE BULLISH 06/17/22 $72.50 $171.0K 4.5K 150
NEM CALL TRADE BEARISH 05/20/22 $75.00 $86.9K 988 124
NEM CALL TRADE BEARISH 05/20/22 $75.00 $77.5K 988 348
NEM CALL SWEEP BEARISH 05/20/22 $75.00 $76.4K 988 237

Where Is Newmont Standing Right Now?

  • With a volume of 2,178,155, the price of NEM is down -0.34% at $80.97.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 17 days.

What The Experts Say On Newmont:

  • Jefferies has decided to maintain their Hold rating on Newmont, which currently sits at a price target of $72.

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.

Posted In: BZI-UOAOptionsMarkets