Benzinga's options scanner just detected over 10 options trades for Rio Tinto RIO summing a total amount of $1,726,455.
At the same time, our algo caught 4 for a total amount of 1,458,535.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $62.5 to $72.5 for Rio Tinto over the recent three months.
Analyzing Volume & Open Interest
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 $62.5 to $72.5, over the past month.
Rio Tinto Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIO | PUT | TRADE | BULLISH | 06/21/24 | $67.50 | $1.3M | 250 | 3.0K |
| RIO | CALL | SWEEP | BULLISH | 08/16/24 | $62.50 | $75.2K | 8 | 0 |
| RIO | PUT | SWEEP | BULLISH | 08/16/24 | $72.50 | $50.7K | 209 | 59 |
| RIO | CALL | SWEEP | BULLISH | 08/16/24 | $67.50 | $44.2K | 233 | 131 |
| RIO | CALL | SWEEP | BULLISH | 08/16/24 | $67.50 | $42.2K | 233 | 63 |
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.
Current Position of Rio Tinto
- Currently trading with a volume of 1,556,089, the RIO's price is up by 0.3%, now at $69.64.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 83 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.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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