Here's what whales are betting on Barrick Gold

Someone with a lot of money to burn has taken a bullish stance on Barrick Gold GOLD.

And retailers should know.

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

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

So how do we know what this whale just did?

Benzinga's options scanner today spotted 21 unusual options trades for Barrick Gold.

This is not normal.

The general sentiment of these big traders is split between 52% bullish and 47% bearish.

Of all the special options we discovered, 7 are puts, totaling $963,549, and 14 are calls, totaling $817,780 .

What is the target price?

Given the volume and open interest on these contracts, it appears that whales have targeted a price range of $13.0 to $25.0 for Barrick Gold over the course of for the past 3 months.

Development of volume and open interest

Reviewing volume and open interest is an insightful way to perform due diligence on a stock.

This data can help you track the liquidity and interest of Barrick Gold options for a given strike price.

Below we can see the evolution of call and put volume and open interest, respectively, for Barrick's entire whale business Gold in a strike price range of $13.0 to $25.0 over the past 30 days.

Barrick Gold Option Volume and Open Interest in the Last 30 Days The biggest options spotted:

Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume GOLD PUT TRADE BEARISH 03/17/23 $16.00 $330,000 849 2.0K GOLD PUT SWEEP BEARISH 01/20/23 $20.00 $197,500 71.5K 359 GOLD CALL SWEEP BEARISH 01/20/23 $18.00 $150.4,000 35.1K 8.2K GOLD PUT SWEEP BULLISH 01/20/23 $18.00 $123.5,000 41.2K 501 GOLD CALL TRADE BEARISH 01/20/23 $18.00 $102,400 35.1K 10.5K

Where is Barrick Gold right now? With a volume of 10,237,387, the price of GOLD is up 2.62% at $16.83. RSI indicators suggest that the underlying stock could be close to overbought. The next results should be published in 83 days. What experts say about Barrick Gold: Barclays has decided to maintain its overweight rating on Barrick Gold, which currently sits at a price target of $25. BMO Capital has decided to maintain its outperform rating on Barrick Gold, which currently sits at a price target of $28.

Options are a riskier asset than just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator, and following the markets closely.

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

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