Financial giants have made a conspicuous bullish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan FCX revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $123,560, and 7 were calls, valued at $298,274.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $42.0 for Freeport-McMoRan over the recent three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Freeport-McMoRan's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Freeport-McMoRan's significant trades, within a strike price range of $30.0 to $42.0, over the past month.
Freeport-McMoRan 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BEARISH | 04/19/24 | $38.00 | $86.9K | 954 | 38 |
| FCX | PUT | SWEEP | BULLISH | 09/20/24 | $30.00 | $84.9K | 2.4K | 220 |
| FCX | CALL | SWEEP | BULLISH | 01/16/26 | $33.00 | $57.7K | 644 | 52 |
| FCX | CALL | SWEEP | BULLISH | 03/01/24 | $38.00 | $39.0K | 2.0K | 1.1K |
| FCX | PUT | SWEEP | BEARISH | 05/17/24 | $40.00 | $38.6K | 659 | 114 |
About Freeport-McMoRan
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
Present Market Standing of Freeport-McMoRan
- With a trading volume of 2,725,551, the price of FCX is up by 1.66%, reaching $38.66.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 52 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
