Rio Tinto Unusual Options Activity

Investors with significant funds have taken a bullish position in Rio Tinto RIO, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in RIO usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 11 options transactions for Rio Tinto. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 54% being bullish and 45% bearish. Of all the options we discovered, 10 are puts, valued at $1,152,180, and there was a single call, worth $51,600.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $75.0 for Rio Tinto over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Rio Tinto options trades today is 906.09 with a total volume of 874.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Rio Tinto's big money trades within a strike price range of $55.0 to $75.0 over the last 30 days.

Rio Tinto Call and Put Volume: 30-Day Overview

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 the 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 1,917,012, the RIO's price is down by -2.12%, now at $64.58.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 149 days.

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.

If you want to stay updated on the latest options trades for Rio Tinto, Benzinga Pro gives you real-time options trades alerts.