Newmont Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of bearish options activity has been detected for Newmont (NYSE:NEM), with 85% of investors opening trades with bearish expectations. The total amount for puts is $997,838 and for calls is $316,196. Whales have been targeting a price range from $22.5 to $80.0 for Newmont over the last 3 months. The current price of NEM is down -1.19% at $40.38. Argus Research and TD Securities maintain their Buy rating on Newmont, while CIBC downgraded its action to Neutral.
August 07, 2023 | 8:00 pm
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Bearish options activity detected for Newmont. The current price of NEM is down -1.19% at $40.38. Argus Research and TD Securities maintain their Buy rating on Newmont, while CIBC downgraded its action to Neutral.
The bearish options activity indicates that investors are expecting the price of Newmont to decrease. This, combined with the current price decrease of -1.19%, could lead to a short-term negative impact on the stock. However, the maintained Buy ratings from Argus Research and TD Securities could mitigate this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100