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Deep-pocketed investors have adopted a bearish approach towards Newmont (NYSE:NEM), 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 NEM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Newmont. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 2 are puts, totaling $250,920, and 7 are calls, amounting to $805,535.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $42.5 for Newmont over the recent three months.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Newmont's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Newmont's significant trades, within a strike price range of $30.0 to $42.5, over the past month.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | BEARISH | 06/21/24 | $7.85 | $7.75 | $7.76 | $30.00 | $194.7K | 3.2K | 501 |
| NEM | CALL | SWEEP | BEARISH | 09/20/24 | $4.95 | $4.8 | $4.8 | $35.00 | $178.5K | 19.5K | 1.0K |
| NEM | CALL | SWEEP | BEARISH | 09/20/24 | $4.85 | $4.8 | $4.8 | $35.00 | $175.2K | 19.5K | 516 |
| NEM | PUT | SWEEP | BULLISH | 01/17/25 | $7.8 | $7.5 | $7.5 | $42.50 | $156.7K | 3.0K | 154 |
| NEM | CALL | SWEEP | BULLISH | 06/21/24 | $7.95 | $7.05 | $7.75 | $30.00 | $96.8K | 3.2K | 125 |
Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at end December 2023.
In light of the recent options history for Newmont, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Newmont with Benzinga Pro for real-time alerts.
Posted In: NEM
