Whales with a lot of money to spend have taken a noticeably bullish stance on Freeport-McMoRan.
Looking at options history for Freeport-McMoRan FCX we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $210,134 and 4, calls, for a total amount of $116,095.
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 $35.0 to $42.0 for Freeport-McMoRan over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 3280.4, with a total volume reaching 1,592.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $35.0 to $42.0, throughout the last 30 days.
Freeport-McMoRan 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | PUT | SWEEP | BULLISH | 06/21/24 | $42.00 | $88.2K | 3.5K | 218 |
| FCX | PUT | SWEEP | BULLISH | 06/21/24 | $42.00 | $60.0K | 3.5K | 379 |
| FCX | PUT | TRADE | BULLISH | 04/19/24 | $38.00 | $36.5K | 1.8K | 250 |
| FCX | CALL | TRADE | BEARISH | 01/17/25 | $40.00 | $30.5K | 8.4K | 100 |
| FCX | CALL | TRADE | BEARISH | 01/17/25 | $40.00 | $30.2K | 8.4K | 150 |
About Freeport-McMoRan
Freeport-McMoRan Inc is an international mining company. It operates geographically diverse assets with proven and probable mineral reserves of copper, gold, and molybdenum. The company's portfolio of assets includes the Grasberg minerals district in Indonesia; and mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. It derives key revenue from the sale of Copper.
In light of the recent options history for Freeport-McMoRan, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Freeport-McMoRan
- Trading volume stands at 257,989, with FCX's price up by 1.34%, positioned at $39.2.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 73 days.
Professional Analyst Ratings for Freeport-McMoRan
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $55.0.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Sector Perform with a new price target of $55.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Freeport-McMoRan with Benzinga Pro for real-time alerts.
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