Smart Money Is Betting Big In RIO Options

Whales with a lot of money to spend have taken a noticeably bearish stance on Rio Tinto.

Looking at options history for Rio Tinto (NYSE:RIO) we detected 17 trades.

If we consider the specifics of each trade, it is accurate to state that 11% of the investors opened trades with bullish expectations and 76% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $1,336,168 and 10, calls, for a total amount of $639,030.

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 $65.0 to $105.0 for Rio Tinto over the last 3 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 $65.0 to $105.0, over the past month.

Rio Tinto Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
RIO PUT SWEEP BEARISH 08/16/24 $32.1 $31.9 $32.0 $105.00 $643.2K 0 201
RIO PUT SWEEP BEARISH 10/18/24 $27.3 $27.2 $27.3 $100.00 $278.4K 69 0
RIO PUT SWEEP BEARISH 10/18/24 $27.1 $26.9 $27.1 $100.00 $197.8K 69 175
RIO CALL TRADE BEARISH 01/17/25 $11.7 $11.1 $11.3 $65.00 $169.5K 1.1K 159
RIO PUT SWEEP BEARISH 08/16/24 $17.3 $17.2 $17.3 $90.00 $121.0K 0 70

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.

In light of the recent options history for Rio Tinto, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Rio Tinto's Current Market Status Currently trading with a volume of 2,138,985, the RIO's price is up by 2.27%, now at $73.54. RSI readings suggest the stock is currently may be overbought. Anticipated earnings release is in 68 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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