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Investors with a lot of money to spend have taken a bullish stance on Barrick Gold (NYSE:GOLD).
And retail traders should know.
We noticed this today when the trades 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 GOLD, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for Barrick Gold.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $465,000, and 12 are calls, for a total amount of $770,751.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $20.0 for Barrick Gold during the past quarter.
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 Barrick Gold'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 Barrick Gold's whale trades within a strike price range from $10.0 to $20.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | TRADE | BULLISH | 01/17/25 | $1.9 | $1.85 | $1.85 | $17.00 | $416.2K | 35.4K | 2.3K |
| GOLD | CALL | TRADE | NEUTRAL | 01/16/26 | $5.15 | $5.05 | $5.1 | $13.00 | $203.9K | 4.7K | 1.1K |
| GOLD | CALL | TRADE | BEARISH | 01/16/26 | $5.45 | $4.75 | $4.9 | $13.00 | $169.0K | 4.7K | 0 |
| GOLD | CALL | SWEEP | NEUTRAL | 06/21/24 | $0.73 | $0.72 | $0.73 | $17.00 | $73.0K | 54.6K | 1.6K |
| GOLD | CALL | SWEEP | BEARISH | 04/19/24 | $0.75 | $0.72 | $0.72 | $16.00 | $72.0K | 13.5K | 1.3K |
Based in Toronto, Barrick Gold is one of the world's largest gold miners. In 2023, the firm produced nearly 4.1 million attributable ounces of gold and about 420 million pounds of copper. At end 2023, 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.
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $18.0.
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: GOLD
