Deep-pocketed investors have adopted a bullish approach towards Rio Tinto RIO, and it's something market players shouldn't ignore. 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 RIO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Rio Tinto. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 6 are puts, totaling $1,330,249, and 4 are calls, amounting to $169,750.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $72.5 for Rio Tinto, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Rio Tinto's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Rio Tinto's significant trades, within a strike price range of $60.0 to $72.5, over the past month.
Rio Tinto Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIO | PUT | TRADE | BEARISH | 01/17/25 | $65.00 | $858.0K | 405 | 1.5K |
| RIO | PUT | SWEEP | BEARISH | 06/21/24 | $72.50 | $290.8K | 1.1K | 404 |
| RIO | CALL | TRADE | BULLISH | 01/17/25 | $70.00 | $66.7K | 592 | 0 |
| RIO | PUT | SWEEP | BEARISH | 01/17/25 | $65.00 | $59.2K | 405 | 1.6K |
| RIO | PUT | TRADE | BULLISH | 06/21/24 | $60.00 | $42.0K | 441 | 300 |
About Rio Tinto
Rio Tinto is a global diversified miner. Iron ore is the dominant commodity, with significantly lesser contributions from copper, aluminum, diamonds, gold, and industrial minerals. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included its Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.
Present Market Standing of Rio Tinto
- With a trading volume of 974,580, the price of RIO is up by 2.08%, reaching $68.68.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 28 days from now.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Rio Tinto with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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