Rio Tinto Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Rio Tinto (NYSE:RIO), with 54% of recent trades being bearish and 45% bullish. The total amount for puts is $736,730 and for calls is $537,734. Whales have been targeting a price range from $60.0 to $94.38 for Rio Tinto over the last 3 months. The price of RIO is up 3.12% at $69.01, with RSI indicators suggesting it may be approaching overbought.
July 13, 2023 | 8:16 pm
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Bearish stance taken on Rio Tinto with majority of recent trades being bearish. Whales targeting price range of $60.0 to $94.38 over last 3 months. RIO price up 3.12% at $69.01.
The bearish stance taken by a significant investor, along with the fact that the majority of recent trades are bearish, suggests a potential downward pressure on the stock price. The current price is within the targeted range by whales, but the RSI indicators suggest it may be approaching overbought, which could lead to a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100