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 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $179,528 and 5, calls, for a total amount of $172,271.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $60.0 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 $50.0 to $60.0, over the past month.
Freeport-McMoRan Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | PUT | SWEEP | BEARISH | 07/19/24 | $1.51 | $1.48 | $1.5 | $50.00 | $60.1K | 5.2K | 101 |
| FCX | PUT | SWEEP | BULLISH | 05/31/24 | $1.24 | $1.05 | $1.05 | $53.00 | $51.3K | 2.4K | 504 |
| FCX | CALL | SWEEP | BULLISH | 05/31/24 | $1.19 | $1.16 | $1.19 | $52.00 | $50.8K | 3.0K | 1.3K |
| FCX | PUT | SWEEP | BEARISH | 05/31/24 | $1.13 | $1.09 | $1.09 | $53.00 | $39.7K | 2.4K | 908 |
| FCX | CALL | TRADE | BULLISH | 05/31/24 | $0.77 | $0.69 | $0.77 | $53.00 | $38.5K | 3.2K | 105 |
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.
Following our analysis of the options activities associated with Freeport-McMoRan, we pivot to a closer look at the company's own performance.
Where Is Freeport-McMoRan Standing Right Now?
- With a trading volume of 2,281,419, the price of FCX is up by 2.06%, reaching $52.59.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 51 days from now.
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 $54.0.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Freeport-McMoRan with a target price of $54.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Freeport-McMoRan, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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