Investors with a lot of money to spend have taken a bearish stance on First Majestic Silver (NYSE:AG).
And retail traders should know.
We noticed this today when the trades 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 AG, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for First Majestic Silver.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $293,911, and 9 are calls, for a total amount of $307,676.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $10.0 for First Majestic Silver over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of First Majestic Silver stands at 9348.38, with a total volume reaching 18,625.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in First Majestic Silver, situated within the strike price corridor from $5.0 to $10.0, throughout the last 30 days.
First Majestic Silver Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AG | PUT | SWEEP | BULLISH | 12/18/26 | $2.03 | $1.8 | $1.8 | $7.00 | $107.1K | 2.3K | 1.9K |
| AG | PUT | SWEEP | BEARISH | 12/18/26 | $1.8 | $1.8 | $1.8 | $7.00 | $105.3K | 2.3K | 1.3K |
| AG | PUT | SWEEP | BEARISH | 01/17/25 | $0.35 | $0.34 | $0.34 | $5.00 | $81.4K | 8.2K | 2.5K |
| AG | CALL | SWEEP | BULLISH | 05/31/24 | $0.97 | $0.85 | $0.97 | $7.00 | $48.5K | 373 | 500 |
| AG | CALL | SWEEP | BULLISH | 05/31/24 | $0.88 | $0.84 | $0.89 | $7.00 | $44.5K | 373 | 1.1K |
About First Majestic Silver
First Majestic Silver Corp is engaged in the production, development, exploration, and acquisition of mineral properties with a focus on silver and gold production in North America. It owns three producing mines, in Mexico consisting of the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.
Having examined the options trading patterns of First Majestic Silver, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of First Majestic Silver
- Trading volume stands at 7,874,391, with AG's price down by -1.5%, positioned at $7.86.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 72 days.
Expert Opinions on First Majestic Silver
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $8.5.
- Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $8.
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.