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Investors with a lot of money to spend have taken a bearish stance on Barrick Gold (NYSE:GOLD).
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 GOLD, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for Barrick Gold.
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 $26,250, and 14, calls, for a total amount of $1,084,350.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $16.0 to $27.5 for Barrick Gold over the last 3 months.
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 $16.0 to $27.5 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 | CALL | SWEEP | BEARISH | 05/17/24 | $1.07 | $1.04 | $1.07 | $18.00 | $185.1K | 12.8K | 1.7K |
| GOLD | CALL | TRADE | BEARISH | 06/21/24 | $2.42 | $2.62 | $2.62 | $16.00 | $131.0K | 13.6K | 500 |
| GOLD | CALL | TRADE | NEUTRAL | 04/19/24 | $1.28 | $1.24 | $1.26 | $17.50 | $127.3K | 4.8K | 701 |
| GOLD | CALL | TRADE | BULLISH | 01/17/25 | $1.77 | $1.63 | $1.72 | $20.00 | $114.7K | 102.8K | 94 |
| GOLD | CALL | SWEEP | BULLISH | 01/17/25 | $1.85 | $1.84 | $1.85 | $20.00 | $71.6K | 102.8K | 1.2K |
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.
In light of the recent options history for Barrick Gold, 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 Barrick Gold with Benzinga Pro for real-time alerts.
Posted In: GOLD
