This Is What Whales Are Betting On Barrick Gold

This Is What Whales Are Betting On Barrick Gold

Someone with a lot of money to spend has taken a bearish stance on Barrick Gold GOLD.

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 GOLD, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Barrick Gold.

This isn't normal.

The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $150,465, and 7 are calls, for a total amount of $380,441.

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 $12.0 to $37.0 for Barrick Gold over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 4015.75 with a total volume of 5,164.00.

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 $12.0 to $37.0 over the last 30 days.

Barrick Gold 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
GOLD CALL TRADE BEARISH 01/19/24 $13.00 $185.0K 4.1K 566
GOLD PUT SWEEP BULLISH 03/17/23 $21.00 $61.5K 288 100
GOLD CALL SWEEP BULLISH 11/18/22 $15.00 $37.6K 110 654
GOLD CALL TRADE NEUTRAL 09/16/22 $12.00 $33.5K 434 100
GOLD CALL SWEEP BEARISH 01/19/24 $37.00 $32.3K 564 1.7K

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GOLD CALL TRADE BEARISH 01/19/24 $13.00 $185.0K 4.1K 566
GOLD PUT SWEEP BULLISH 03/17/23 $21.00 $61.5K 288 100
GOLD CALL SWEEP BULLISH 11/18/22 $15.00 $37.6K 110 654
GOLD CALL TRADE NEUTRAL 09/16/22 $12.00 $33.5K 434 100
GOLD CALL SWEEP BEARISH 01/19/24 $37.00 $32.3K 564 1.7K

Where Is Barrick Gold Standing Right Now?

  • With a volume of 21,658,631, the price of GOLD is down -0.87% at $15.35.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 66 days.

What The Experts Say On Barrick Gold:

  • BMO Capital has decided to maintain their Outperform rating on Barrick Gold, which currently sits at a price target of $28.

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 Barrick Gold, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets