Behind the Scenes of Agnico Eagle Mines's Latest Options Trends

Agnico-Eagle Mines Limited -2.23% Pre

Agnico-Eagle Mines Limited





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Investors with a lot of money to spend have taken a bearish stance on Agnico Eagle Mines (NYSE:AEM).

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AEM, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 18 options trades for Agnico Eagle Mines.

This isn't normal.

The overall sentiment of these big-money traders is split between 11% bullish and 88%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $146,400, and 17, calls, for a total amount of $1,974,471.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $70.0 for Agnico Eagle Mines, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Agnico Eagle Mines stands at 2268.5, with a total volume reaching 4,410.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Agnico Eagle Mines, situated within the strike price corridor from $30.0 to $70.0, throughout the last 30 days.

Agnico Eagle Mines 30-Day Option Volume & Interest Snapshot

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
AEM CALL SWEEP BEARISH 03/15/24 $50.00 $348.6K 3.8K 670
AEM CALL SWEEP NEUTRAL 06/21/24 $45.00 $250.4K 415 250
AEM CALL SWEEP BEARISH 06/21/24 $50.00 $171.6K 1.1K 300
AEM PUT SWEEP BEARISH 01/17/25 $70.00 $146.4K 11 1
AEM CALL TRADE NEUTRAL 01/19/24 $30.00 $116.0K 257 300

About Agnico Eagle Mines

Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines online in rapid succession in the following years. It merged with Kirkland Lake Gold in 2022, acquiring the Detour Lake and Macassa mines in Canada along with the high-grade, low-cost Fosterville mine in Australia. It produced more than 3.1 million gold ounces in 2022 and had about 15 years of gold reserves at end 2022. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions and bought the remaining 50% of its Canadian Malartic mine along with the Wasamac project and other assets from Yamana Gold in 2023.

Having examined the options trading patterns of Agnico Eagle Mines, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Agnico Eagle Mines

  • Trading volume stands at 1,721,866, with AEM's price down by 0.0%, positioned at $53.41.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 78 days.

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 Agnico Eagle Mines, Benzinga Pro gives you real-time options trades alerts.

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