Highlights on Options Activity for Barrick Gold Corporation (ABX)

Posted on 12/27/2012 by Evelyn Greenberg

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NEW YORK (AVAFIN) -- Barrick Gold Corporation options contracts experienced a new 90-day record for call contracts where a total of 13,643 call contracts were traded in the busy trading session. The contract spread yielded a 0.29 put/call ratio where 3.5 call contracts were traded for each put contract.

Options are useful tools for predicting the movement of the underlying stock. Put/Call ratio statistics serve as a useful predictor of investment sentiment, indicating what experienced investors are doing in preparation for a move of an underlying stock. Thus, unusual volume provides reliable clues that the stock is expected to make a move.

ABX is trading below the 50 day moving average and lower than the 200 day moving average. Barrick Gold Corporation opened at $33.73 and the stock price rose $0.16 (+0.47%) to $34.26 during the market session. ABX is trading between the range of $33.71 - $34.69. To date, the stock has lost -2.74% within the last month.

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