What the Options Market Tells Us About Barrick Gold

Deep-pocketed investors have adopted a bearish 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 8 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 37% leaning bullish and 62% bearish. Among these notable options, 3 are puts, totaling $255,119, and 5 are calls, amounting to $194,377.

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 $10.0 to $20.0 for Barrick Gold over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Barrick Gold stands at 5711.29, with a total volume reaching 2,223.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Barrick Gold, situated within the strike price corridor from $10.0 to $20.0, throughout the last 30 days.

Barrick Gold 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GOLD PUT SWEEP BULLISH 01/17/25 $20.00 $119.1K 7.3K 559
GOLD PUT SWEEP BULLISH 01/17/25 $20.00 $104.4K 7.3K 3
GOLD CALL SWEEP BEARISH 01/17/25 $15.00 $50.5K 10.4K 229
GOLD CALL SWEEP BEARISH 01/17/25 $17.00 $42.0K 11.5K 252
GOLD CALL SWEEP BEARISH 06/21/24 $16.00 $40.0K 2.7K 224

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.

Having examined the options trading patterns of Barrick Gold, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Barrick Gold Standing Right Now?

  • Currently trading with a volume of 6,422,654, the GOLD's price is up by 0.48%, now at $16.75.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 64 days.

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.

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Posted In: OptionsMarketsBZI-UOA
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