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 12 uncommon options trades for Rio Tinto.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $418,890, and 4 are calls, for a total amount of $254,488.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $80.0 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 $70.0 to $80.0 in the last 30 days.
Rio Tinto Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIO | PUT | SWEEP | BULLISH | 08/16/24 | $80.00 | $91.9K | 1 | 91 |
| RIO | CALL | SWEEP | BULLISH | 08/16/24 | $75.00 | $74.4K | 1.1K | 149 |
| RIO | PUT | SWEEP | BEARISH | 08/16/24 | $80.00 | $72.7K | 1 | 163 |
| RIO | PUT | SWEEP | BULLISH | 08/16/24 | $77.50 | $66.3K | 106 | 78 |
| RIO | CALL | SWEEP | BULLISH | 08/16/24 | $70.00 | $61.3K | 756 | 81 |
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.
Having examined the options trading patterns of Rio Tinto, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Rio Tinto's Current Market Status
- With a volume of 1,740,080, the price of RIO is down -0.11% at $74.69.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 54 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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