Bearish flow noted in Rio Tinto with 2,239 puts trading, or 1.6x expected. Most active are Aug-23 65 puts and Jul-23 67.5 calls, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 1.85, while ATM IV is up over 1 point on the day. Earnings are expected on July 26th.
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