Investors with a lot of money to spend have taken a bullish stance on Rio Tinto RIO.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with RIO, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Rio Tinto.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $89,647, and 6 are calls, for a total amount of $275,863.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $75.0 for Rio Tinto over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Rio Tinto options trades today is 876.86 with a total volume of 482.00.
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 $65.0 to $75.0 over the last 30 days.
Rio Tinto Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIO | CALL | SWEEP | BEARISH | 06/21/24 | $70.00 | $94.8K | 272 | 179 |
| RIO | CALL | SWEEP | BULLISH | 08/16/24 | $65.00 | $54.5K | 157 | 1 |
| RIO | PUT | SWEEP | BEARISH | 06/21/24 | $70.00 | $48.7K | 735 | 92 |
| RIO | PUT | SWEEP | BEARISH | 01/17/25 | $65.00 | $40.8K | 142 | 0 |
| RIO | CALL | SWEEP | BULLISH | 08/16/24 | $70.00 | $37.8K | 515 | 126 |
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.
After a thorough review of the options trading surrounding Rio Tinto, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Rio Tinto
- With a volume of 2,154,481, the price of RIO is up 1.77% at $70.21.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 75 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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