Market Whales and Their Recent Bets on NEM Options
Portfolio Pulse from Benzinga Insights
Financial giants have made significant bullish moves on Newmont (NYSE:NEM) options, with 23 unusual trades identified. The trades include 11 puts valued at $612,695 and 12 calls valued at $1,529,913. The price target for NEM ranges from $35.0 to $57.5. Currently, NEM is trading at $48.66, down 0.73%, with RSI indicators suggesting it may be overbought. An analyst from BMO Capital maintains an Outperform rating with a target price of $57.
August 14, 2024 | 4:15 pm
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Financial giants have made significant bullish moves on Newmont (NYSE:NEM) options, with 23 unusual trades identified. The price target for NEM ranges from $35.0 to $57.5. Currently, NEM is trading at $48.66, down 0.73%, with RSI indicators suggesting it may be overbought. An analyst from BMO Capital maintains an Outperform rating with a target price of $57.
The significant bullish options trades and the maintained Outperform rating with a target price of $57 suggest a positive short-term outlook for NEM. However, the current price drop and overbought RSI indicators may cause some volatility.
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