This Is What Whales Are Betting On Rio Tinto
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Rio Tinto (NYSE:RIO), with 58% of recent trades being bearish. The total amount for put options is $484,330 and for call options is $278,507. Whales have been targeting a price range from $60.0 to $80.0 for Rio Tinto over the last 3 months. The price of RIO is up 4.13% at $69.8, and RSI indicators suggest the stock may be approaching overbought. Next earnings are expected in 28 days.
July 25, 2023 | 4:45 pm
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Bearish stance taken on Rio Tinto with majority of recent trades being bearish. Whales have been targeting a price range from $60.0 to $80.0 for Rio Tinto over the last 3 months. The stock is up 4.13% at $69.8, and may be approaching overbought.
The bearish stance taken by a significant investor, along with the majority of recent trades being bearish, suggests a potential downward pressure on the stock price. The stock is currently up, but RSI indicators suggest it may be approaching overbought, which could lead to a price correction. The next earnings release in 28 days could also impact the stock price.
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IMPORTANCE 80
RELEVANCE 100