High-rolling investors have positioned themselves bullish on Freeport-McMoRan FCX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in FCX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 23 options trades for Freeport-McMoRan. This is not a typical pattern.
The sentiment among these major traders is split, with 56% bullish and 43% bearish. Among all the options we identified, there was one put, amounting to $41,050, and 22 calls, totaling $1,148,592.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $44.0 to $55.0 for Freeport-McMoRan during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Freeport-McMoRan's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Freeport-McMoRan's substantial trades, within a strike price spectrum from $44.0 to $55.0 over the preceding 30 days.
Freeport-McMoRan Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | TRADE | BULLISH | 01/17/25 | $6.0 | $5.95 | $6.0 | $50.00 | $290.4K | 13.9K | 0 |
| FCX | CALL | TRADE | BULLISH | 04/19/24 | $3.0 | $2.99 | $3.0 | $45.00 | $90.0K | 7.4K | 315 |
| FCX | CALL | TRADE | BULLISH | 06/21/24 | $1.21 | $1.11 | $1.21 | $55.00 | $60.5K | 50.8K | 460 |
| FCX | CALL | TRADE | BULLISH | 04/19/24 | $2.32 | $2.31 | $2.32 | $46.00 | $58.0K | 5.5K | 23 |
| FCX | CALL | SWEEP | BEARISH | 06/21/24 | $1.13 | $1.1 | $1.1 | $55.00 | $55.0K | 50.8K | 2.0K |
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 volume of 1,059,022, the price of FCX is up 0.87% at $47.74.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 21 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Freeport-McMoRan options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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