Whales with a lot of money to spend have taken a noticeably bullish stance on Newmont.

Looking at options history for Newmont (NYSE:NEM) we detected 20 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $437,295 and 14, calls, for a total amount of $1,356,261.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $55.0 for Newmont over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Newmont stands at 3573.42, with a total volume reaching 18,285.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Newmont, situated within the strike price corridor from $30.0 to $55.0, throughout the last 30 days.

Newmont 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Newmont

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 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It 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 the end of December 2023.

Following our analysis of the options activities associated with Newmont, we pivot to a closer look at the company's own performance.

Current Position of Newmont

• With a trading volume of 4,814,346, the price of NEM is down by -0.29%, reaching $40.1.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 66 days from now.

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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.