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Deep-pocketed investors have adopted a bearish approach towards Newmont (NYSE:NEM), 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 NEM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Newmont. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 9 are puts, totaling $740,103, and 9 are calls, amounting to $1,195,318.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $27.5 to $52.5 for Newmont during the past quarter.
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Newmont's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Newmont's substantial trades, within a strike price spectrum from $27.5 to $52.5 over the preceding 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEM | CALL | SWEEP | BULLISH | 01/17/25 | $3.75 | $3.6 | $3.7 | $45.00 | $804.0K | 33.9K | 2.3K |
| NEM | PUT | SWEEP | BULLISH | 06/20/25 | $4.4 | $4.25 | $4.25 | $40.00 | $212.5K | 67 | 500 |
| NEM | PUT | SWEEP | BEARISH | 12/20/24 | $1.84 | $1.83 | $1.83 | $37.50 | $115.8K | 14.6K | 633 |
| NEM | PUT | SWEEP | BULLISH | 01/17/25 | $11.7 | $11.6 | $11.6 | $52.50 | $110.2K | 1.8K | 95 |
| NEM | PUT | SWEEP | BULLISH | 12/20/24 | $1.81 | $1.8 | $1.8 | $37.50 | $90.0K | 14.6K | 1.5K |
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 6.9 million ounces of gold in 2024. However, after buying Newcrest, Newmont 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 end December 2023.
In light of the recent options history for Newmont, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $46.5.
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 Newmont, Benzinga Pro gives you real-time options trades alerts.
Posted In: NEM
