Gold Options Trading: Strategies and Best Brokers
Gold is a popular investment option for many people. It is considered a safe-haven asset, and is often used to diversify investment portfolios. There are several ways to invest in gold, including buying physical gold in the form of bars, coins or jewellery, or investing in gold indirectly through gold shares or gold funds. Gold is not a good investment for long-term capital growth, and its price can be extremely volatile. However, it can be a good way to hedge against risk or diversify your portfolio. Gold is not an inflation hedge over short periods of time, but it may be effective over longer periods. The price of gold is determined by the level of supply and demand, and can be affected by changes in demand.
Adding Gold to a 401(k)
Different ways to add gold to a 401(k) retirement plan include gold individual retirement accounts (IRAs), gold exchange-traded funds (ETFs), gold mutual funds, gold mining stocks, gold certificates, and gold futures and options. The best way to add gold to a 401(k) will depend on the investor's risk tolerance and financial goals. Adding gold to a 401(k) can be a smart way to diversify a portfolio and protect against losses from more volatile investments.
Options Trading Patterns of Barrick Gold
Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GOLD usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Barrick Gold. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 5 are puts, totaling $565,100, and 7 are calls, amounting to $284,740. 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 $13.0 and $20.0 for Barrick Gold, spanning the last three months. Insights into Volume & Open Interest Looking at the volume and open interest is an insightful way to conduct due diligence on a stock. This data can help you track the liquidity and interest for Barrick Gold's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Barrick Gold's whale activity within a strike price range from $13.0 to $20.0 in the last 30 days. Barrick Gold Option Volume And Open Interest Over Last 30 Days Largest Options Trades Observed: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume GOLD PUT SWEEP BEARISH 01/17/25 $13.00 $290.0K 22.5K 4.5K GOLD PUT SWEEP BEARISH 03/28/24 $14.50 $100.9K 181 3.5K GOLD PUT SWEEP BEARISH 01/17/25 $13.00 $86.7K 22.5K 1.0K GOLD CALL SWEEP BEARISH 03/15/24 $15.00 $51.0K 19.1K 3.1K GOLD PUT SWEEP BEARISH 03/15/24 $14.50 $48.3K 810 2.7K
Best Brokers for Options Trading
The best brokers for options trading in March 2024. The brokers considered are Charles Schwab, Fidelity Investments, Interactive Brokers, TradeStation, Ally Invest, Robinhood, Webull, Firstrade, E-Trade, and tastytrade.
Charles Schwab is the top-rated broker for options trading, with fair pricing for options, fundamental research, and the highly regarded thinkorswim trading platform.
Fidelity Investments is also a solid pick, with options commissions that are right in line with Schwab's, a solid customer experience, and its Active Trader Pro platform.
Interactive Brokers is another great option, with five capable trading platforms, access to options, and the ability to access virtually any security.
TradeStation is another broker that caters to higher-volume traders, and its pricing reflects this focus. Ally Invest is a solid choice for those looking to reduce their trading costs, with low pricing and basic research.
Robinhood is another low-cost option, with $0 stock and options commissions, but limited research and tools. Webull is another mobile trading app that offers low-cost options trading, with $0 commissions and commission-free trading on stocks and ETFs.
Firstrade is another low-cost option, with no commissions or contract fees, and educational content for new options traders.
E-Trade brings research and solid trading platforms to the table, with discounted pricing and a Power E-Trade platform that offers technical studies and a snapshot analysis. tastytrade is geared toward active traders, with low-cost options pricing and the ability to cap commissions at $10 per leg.
It's important to consider a broker as a whole and evaluate how it meets your trading needs, and there's always the potential to open more than one brokerage account if needed.
