High-rolling investors have positioned themselves bullish on Barrick Gold GOLD, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GOLD often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Barrick Gold. This is not a typical pattern.
The sentiment among these major traders is split, with 77% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $25,000, and 8 calls, totaling $499,210.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $25.0 for Barrick Gold, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Barrick Gold stands at 15589.33, with a total volume reaching 5,926.00. 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 $25.0, throughout the last 30 days.
Barrick Gold 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | CALL | TRADE | BULLISH | 01/17/25 | $10.75 | $10.75 | $10.75 | $10.00 | $161.2K | 5.5K | 300 |
| GOLD | CALL | SWEEP | BULLISH | 12/18/26 | $7.25 | $7.25 | $7.25 | $15.00 | $78.3K | 458 | 108 |
| GOLD | CALL | TRADE | BULLISH | 01/17/25 | $10.8 | $10.7 | $10.77 | $10.00 | $53.8K | 5.5K | 50 |
| GOLD | CALL | SWEEP | BULLISH | 01/17/25 | $10.75 | $10.65 | $10.75 | $10.00 | $53.7K | 5.5K | 150 |
| GOLD | CALL | SWEEP | BEARISH | 12/20/24 | $0.49 | $0.48 | $0.48 | $23.00 | $48.1K | 2.2K | 1.9K |
About Barrick Gold
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 year-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.
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
Barrick Gold's Current Market Status
- With a trading volume of 16,896,666, the price of GOLD is down by -1.35%, reaching $20.11.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 38 days from now.
Expert Opinions on Barrick Gold
1 market experts have recently issued ratings for this stock, with a consensus target price of $24.0.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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