This Is What Whales Are Betting On Newmont

This Is What Whales Are Betting On Newmont

A whale with a lot of money to spend has taken a noticeably bullish stance on Newmont.

Looking at options history for Newmont NEM we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 80% of the investors opened trades with bullish expectations and 20% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $197,102 and 5, calls, for a total amount of $238,640.

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 $40.0 to $90.0 for Newmont over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $40.0 to $90.0 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 BULLISH 12/16/22 $40.00 $88.0K 1.7K 100
NEM CALL TRADE BULLISH 12/16/22 $40.00 $48.0K 1.7K 400
NEM PUT SWEEP BEARISH 10/21/22 $45.00 $48.0K 4.4K 150
NEM PUT TRADE BULLISH 12/16/22 $90.00 $47.3K 23 10
NEM CALL TRADE BULLISH 12/16/22 $40.00 $45.0K 1.7K 100

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NEM CALL TRADE BULLISH 12/16/22 $40.00 $88.0K 1.7K 100
NEM CALL TRADE BULLISH 12/16/22 $40.00 $48.0K 1.7K 400
NEM PUT SWEEP BEARISH 10/21/22 $45.00 $48.0K 4.4K 150
NEM PUT TRADE BULLISH 12/16/22 $90.00 $47.3K 23 10
NEM CALL TRADE BULLISH 12/16/22 $40.00 $45.0K 1.7K 100

Where Is Newmont Standing Right Now?

  • With a volume of 978,825, the price of NEM is up 0.06% at $42.62.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 17 days.

What The Experts Say On Newmont:

  • Barclays has decided to maintain their Equal-Weight rating on Newmont, which currently sits at a price target of $57.
  • Goldman Sachs downgraded its action to Buy with a price target of $53

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.

Posted In: BZI-UOAOptionsMarkets