Barrick Gold Unusual Options Activity For April 12
Portfolio Pulse from Benzinga Insights
Barrick Gold (NYSE:GOLD) has seen significant options activity, indicating a bearish sentiment among large investors. Benzinga's options scanner revealed 15 trades, with a predominant bearish outlook (80%). The trades suggest a target price range of $16.0 to $27.5. The largest trades were mostly calls with varying sentiments. Barrick Gold, a major gold miner, has seen its stock price increase by 3.69% to $18.7, potentially indicating an overbought condition. The company is set to release earnings in 19 days.
April 12, 2024 | 2:48 pm
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Barrick Gold has experienced significant bearish options activity, with a stock price increase to $18.7 and an upcoming earnings release. The activity suggests a bearish sentiment among large investors.
The bearish options activity, especially with the stock potentially being overbought (RSI readings suggest so) and the anticipation of an earnings release, could indicate that investors are expecting a negative movement in the stock's price in the short term. The significant volume of bearish trades compared to bullish ones (80% bearish sentiment) underscores the expectation of a price decrease.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100