<p>Investors with a lot of money to spend have taken a bullish stance on <strong>Pan American Silver</strong> (NYSE:PAAS).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PAAS, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, Benzinga's options scanner spotted 15 uncommon options trades for Pan American Silver.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 40% bullish and 40%, bearish.</p>
<p>Out of all of the special options we uncovered, 6 are puts, for a total amount of $301,065, and 9 are calls, for a total amount of $703,230.</p>
<h3>What's The Price Target?</h3>
<p>Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $85.0 for Pan American Silver over the recent three months. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.</p>
<p>This data can help you track the liquidity and interest for Pan American Silver's options for a given strike price.</p>
<p>Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Pan American Silver's whale activity within a strike price range from $30.0 to $85.0 in the last 30 days. </p>
<h3>Pan American Silver 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2026/1770307244_0_0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Options Call Chart" original-src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2026/1770307244_0_0.png"/></p>

<h3>Significant Options Trades Detected:</h3>
<p></p><table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th align="right"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>PAAS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$23.8</td>
<td>$23.5</td>
<td>$23.8</td>
<td>$35.00</td>
<td>$238.3K</td>
<td>4.4K</td>
<td align="right">80</td>
</tr>
<tr>
<td>PAAS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$21.6</td>
<td>$21.4</td>
<td>$21.6</td>
<td>$35.00</td>
<td>$216.0K</td>
<td>4.4K</td>
<td align="right">201</td>
</tr>
<tr>
<td>PAAS</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/06/26</td>
<td>$13.2</td>
<td>$11.9</td>
<td>$12.6</td>
<td>$65.00</td>
<td>$100.8K</td>
<td>86</td>
<td align="right">0</td>
</tr>
<tr>
<td>PAAS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/17/26</td>
<td>$17.1</td>
<td>$17.0</td>
<td>$17.0</td>
<td>$65.00</td>
<td>$85.0K</td>
<td>942</td>
<td align="right">50</td>
</tr>
<tr>
<td>PAAS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/21/26</td>
<td>$9.5</td>
<td>$8.0</td>
<td>$9.3</td>
<td>$60.00</td>
<td>$55.8K</td>
<td>767</td>
<td align="right">60</td>
</tr>
</tbody>
</table><p></p>
<h3>About Pan American Silver</h3>
<p>Pan American Silver Corp is a mining company principally engaged in the operation and development of, and exploration for, silver and gold-producing properties and assets. The company's principal products are silver and gold, although it also produces and sells zinc, lead, and copper. Its operating mines comprise La Colorada, Dolores, Huaron, Morococha, Shahuindo, La Arena, Timmins West, Bell Creek, Manantial Espejo, and San Vicente mines.</p>
<p>In light of the recent options history for Pan American Silver, it's now appropriate to focus on the company itself. We aim to explore its current performance.</p>
<h3>Pan American Silver's Current Market Status</h3>
<ul>
<li>With a trading volume of 3,829,128, the price of PAAS is down by -8.09%, reaching $52.86.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 13 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Pan American Silver</h3>
<p>Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $59.0.</p>
<ul>
<li>An analyst from Scotiabank persists with their Sector Outperform rating on Pan American Silver, maintaining a target price of $64. </li>
<li>An analyst from Jefferies has decided to maintain their Hold rating on Pan American Silver, which currently sits at a price target of $54. </li>
</ul>
<p>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.</p>

USAS

PAAS

<p>Investors are showing a bullish stance on Pan American Silver (NYSE:PAAS), with significant options activity detected. A total of 15 uncommon options trades were noted, with 40% bullish and 40% bearish sentiment. The price target for PAAS is projected between $30.0 and $85.0. The stock is currently trading at $52.86, down 8.09%, with an upcoming earnings report in 13 days. Analysts suggest an average target price of $59.0, with one maintaining a Sector Outperform rating at $64 and another holding a price target of $54.</p>

Decoding Pan American Silver's Options Activity: What's the Big Picture?