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 positions 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.
Today, Benzinga's options scanner spotted 14 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 options we uncovered, there was 1 put, for a total amount of $26,620, and 13, calls, for a total amount of $952,701.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $75.0 for Rio Tinto over the recent 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 $75.0, over the past month.
Rio Tinto 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIO | CALL | SWEEP | BEARISH | 10/18/24 | $3.5 | $3.4 | $3.4 | $62.50 | $166.6K | 1.8K | 1.2K |
| RIO | CALL | SWEEP | BEARISH | 10/18/24 | $3.5 | $3.4 | $3.4 | $62.50 | $166.6K | 1.8K | 730 |
| RIO | CALL | SWEEP | BULLISH | 10/18/24 | $5.6 | $5.5 | $5.6 | $60.00 | $127.7K | 1.1K | 234 |
| RIO | CALL | SWEEP | BULLISH | 01/16/26 | $6.0 | $5.5 | $6.0 | $67.50 | $109.8K | 514 | 183 |
| RIO | CALL | TRADE | BULLISH | 11/15/24 | $4.5 | $3.2 | $4.5 | $62.50 | $90.0K | 339 | 202 |
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.
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.
Where Is Rio Tinto Standing Right Now?
- With a volume of 4,121,363, the price of RIO is up 3.45% at $65.08.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 153 days.
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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.
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