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This Is What Whales Are Betting On Barrick Gold

Benzinga Insights
August 12, 2022

 

Someone with a lot of money to spend has taken a bullish stance on Barrick Gold (NYSE:GOLD).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with GOLD, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 21 uncommon options trades for Barrick Gold.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $963,549, and 14 are calls, for a total amount of $817,780.

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 $13.0 to $25.0 for Barrick Gold over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $13.0 to $25.0 in the last 30 days.

Barrick Gold Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GOLD PUT TRADE BEARISH 03/17/23 $16.00 $330.0K 849 2.0K
GOLD PUT SWEEP BEARISH 01/20/23 $20.00 $197.5K 71.5K 359
GOLD CALL SWEEP BEARISH 01/20/23 $18.00 $150.4K 35.1K 8.2K
GOLD PUT SWEEP BULLISH 01/20/23 $18.00 $123.5K 41.2K 501
GOLD CALL TRADE BEARISH 01/20/23 $18.00 $102.4K 35.1K 10.5K

Where Is Barrick Gold Standing Right Now?

  • With a volume of 10,237,387, the price of GOLD is up 2.62% at $16.83.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 83 days.

What The Experts Say On Barrick Gold:

  • Barclays has decided to maintain their Overweight rating on Barrick Gold, which currently sits at a price target of $25.
  • BMO Capital has decided to maintain their Outperform rating on Barrick Gold, which currently sits at a price target of $28.

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.

If you want to stay updated on the latest options trades for Barrick Gold, Benzinga Pro gives you real-time options trades alerts.

Continue Reading...

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