Deep-pocketed investors have adopted a bullish approach towards Barrick Gold GOLD, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GOLD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Barrick Gold. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 2 are puts, totaling $129,482, and 8 are calls, amounting to $617,816.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.0 to $17.0 for Barrick Gold over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Barrick Gold options trades today is 15709.67 with a total volume of 21,285.00.
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 $17.0 to $17.0 over the last 30 days.
Barrick Gold 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GOLD | CALL | SWEEP | NEUTRAL | 06/21/24 | $17.00 | $194.0K | 5.6K | 632 |
| GOLD | CALL | SWEEP | BULLISH | 06/21/24 | $17.00 | $111.8K | 5.6K | 3.9K |
| GOLD | CALL | SWEEP | BEARISH | 06/21/24 | $17.00 | $91.4K | 5.6K | 2.9K |
| GOLD | PUT | SWEEP | BULLISH | 01/19/24 | $17.00 | $89.6K | 30.8K | 67 |
| GOLD | CALL | SWEEP | BULLISH | 01/17/25 | $17.00 | $67.7K | 10.6K | 6 |
About Barrick Gold
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2022, the firm produced nearly 4.1 million attributable ounces of gold and about 440 million pounds of copper. At end 2022, 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?
- With a volume of 2,218,325, the price of GOLD is up 0.73% at $15.28.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 97 days.
What The Experts Say On Barrick Gold
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $27.5.
- An analyst from Raymond James persists with their Outperform rating on Barrick Gold, maintaining a target price of $25.
- Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Barrick Gold with a target price of $30.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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