Check Out What Whales Are Doing With RIO

Deep-pocketed investors have adopted a bearish 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 15 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 13% leaning bullish and 86% bearish. Among these notable options, 8 are puts, totaling $674,980, and 7 are calls, amounting to $738,382.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $57.5 to $82.5 for Rio Tinto over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Rio Tinto'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 Rio Tinto's whale trades within a strike price range from $57.5 to $82.5 in the last 30 days.

Rio Tinto Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

Where Is Rio Tinto Standing Right Now?

• Currently trading with a volume of 2,641,858, the RIO's price is up by 2.8%, now at $69.43.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 5 days.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Rio Tinto options trades with real-time alerts from Benzinga Pro.