Deep-pocketed investors have adopted a bullish approach towards Barrick Gold (NYSE:GOLD), 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 GOLD usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 21 extraordinary options activities for Barrick Gold. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 42% bearish. Among these notable options, 6 are puts, totaling $544,481, and 15 are calls, amounting to $1,384,604.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $22.0 for Barrick Gold over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Barrick Gold's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Barrick Gold's significant trades, within a strike price range of $15.0 to $22.0, over the past month.
Barrick Gold Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | PUT | SWEEP | BULLISH | 12/18/26 | $2.83 | $2.08 | $2.07 | $17.00 | $207.0K | 16 | 0 |
| GOLD | CALL | SWEEP | BULLISH | 09/20/24 | $0.44 | $0.43 | $0.44 | $19.00 | $195.0K | 10.8K | 434 |
| GOLD | CALL | SWEEP | BEARISH | 08/16/24 | $0.94 | $0.93 | $0.93 | $17.00 | $186.0K | 8.9K | 707 |
| GOLD | PUT | SWEEP | BULLISH | 02/21/25 | $3.35 | $3.2 | $3.2 | $20.00 | $160.0K | 990 | 0 |
| GOLD | CALL | SWEEP | BULLISH | 01/16/26 | $4.1 | $4.05 | $4.1 | $15.00 | $117.2K | 16.0K | 203 |
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.
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.
Current Position of Barrick Gold
- Currently trading with a volume of 12,260,509, the GOLD's price is up by 4.3%, now at $17.34.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 34 days.
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.