Options traders are zeroing in on Barrick Gold Corp (NYSE:GOLD) stock, as the company faces turbulence following the suspension of operations in Mali. The decision comes after the Malian government seized approximately 3 metric tons of gold, valued at $245 million, from the company’s Loulo-Gounkoto mining complex. This action, tied to a dispute over revenue shares owed to the state, underscores escalating military pressure on foreign mining companies as Mali asserts greater control over its mineral resources.

Shares of Barrick Gold were last seen 0.3% higher at $15.75, but remain down 21.1% over the past three months. GOLD faces resistance at the $16 level and its 30-day moving average, though the $15 mark has recently provided support to limit further losses.

Unusual options activity is accompanying the news, with 56,000 calls and 50,000 puts exchanged so far today -- four times the average intraday volume. The most active contracts are the January 14.5 call and 14.5 put, while new positions are opening at the weekly 1/31 16-strike call and put. 

While puts and calls are evenly matched today, bearish bets have dominated over the past 10 weeks. According to the security's 50-day put/call volume ratio of 0.57 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), this figure sits in the 99th percentile of its annual range. In other words, although calls outpace puts overall, traders have been picking up puts at an unusually high rate recently.

For investors looking to join in on the action, Barrick Gold stock has consistently rewarded premium buyers. This is reflected in its Schaeffer’s Volatility Scorecard (SVS) rating of 86, indicating the stock has tended to deliver larger-than-expected moves relative to the options market’s low volatility expectations.