Investors with a lot of money to spend have taken a bearish stance on Agnico Eagle Mines AEM.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AEM, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Agnico Eagle Mines.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $246,400, and 14, calls, for a total amount of $2,304,044.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $60.0 for Agnico Eagle Mines over the recent three months.
Volume & Open Interest Trends
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 Agnico Eagle Mines'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 Agnico Eagle Mines's whale activity within a strike price range from $40.0 to $60.0 in the last 30 days.
Agnico Eagle Mines 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 |
|---|---|---|---|---|---|---|---|---|
| AEM | CALL | SWEEP | BEARISH | 01/19/24 | $40.00 | $898.9K | 9.8K | 600 |
| AEM | CALL | TRADE | BEARISH | 01/19/24 | $55.00 | $348.7K | 25.0K | 278 |
| AEM | PUT | SWEEP | BEARISH | 12/20/24 | $60.00 | $246.4K | 91 | 501 |
| AEM | CALL | TRADE | BEARISH | 03/15/24 | $45.00 | $224.0K | 612 | 200 |
| AEM | CALL | SWEEP | BEARISH | 02/16/24 | $50.00 | $174.7K | 3.9K | 424 |
About Agnico Eagle Mines
Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.1 million gold ounces in 2022 and had about 15 years of gold reserves at end 2022. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.
Having examined the options trading patterns of Agnico Eagle Mines, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Agnico Eagle Mines
- Currently trading with a volume of 1,623,891, the AEM's price is up by 2.11%, now at $55.78.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 55 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Agnico Eagle Mines options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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