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 12 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $200,580 and 10, calls, for a total amount of $386,963.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $46.0 to $75.0 for Freeport-McMoRan during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Freeport-McMoRan options trades today is 5322.0 with a total volume of 8,025.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Freeport-McMoRan's big money trades within a strike price range of $46.0 to $75.0 over the last 30 days.
Freeport-McMoRan Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | PUT | SWEEP | BULLISH | 06/21/24 | $1.19 | $1.05 | $1.05 | $48.00 | $157.0K | 5.5K | 3 |
| FCX | CALL | SWEEP | BEARISH | 05/10/24 | $0.35 | $0.34 | $0.34 | $52.00 | $62.0K | 6.8K | 189 |
| FCX | CALL | SWEEP | BULLISH | 05/10/24 | $1.21 | $1.17 | $1.21 | $50.00 | $60.5K | 1.5K | 1.0K |
| FCX | CALL | SWEEP | BULLISH | 01/16/26 | $4.25 | $3.6 | $4.18 | $75.00 | $54.1K | 537 | 3 |
| FCX | PUT | SWEEP | BEARISH | 05/10/24 | $0.88 | $0.86 | $0.87 | $51.00 | $43.5K | 317 | 1.0K |
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.
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.
Freeport-McMoRan's Current Market Status
- Currently trading with a volume of 5,857,288, the FCX's price is up by 0.62%, now at $50.77.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 73 days.
What The Experts Say On Freeport-McMoRan
5 market experts have recently issued ratings for this stock, with a consensus target price of $53.4.
- Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on Freeport-McMoRan with a target price of $53.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Freeport-McMoRan, targeting a price of $54.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Freeport-McMoRan with a target price of $51.
- An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Freeport-McMoRan, which currently sits at a price target of $55.
- Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Freeport-McMoRan with a target price of $54.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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