Deep-pocketed investors have adopted a bullish approach towards Freeport-McMoRan FCX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FCX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Freeport-McMoRan. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 58% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $102,570, and 9 are calls, amounting to $596,775.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $55.0 for Freeport-McMoRan over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Freeport-McMoRan's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Freeport-McMoRan's whale activity within a strike price range from $25.0 to $55.0 in the last 30 days.
Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BULLISH | 01/16/26 | $11.25 | $11.2 | $11.25 | $47.00 | $201.3K | 2.8K | 55 |
| FCX | CALL | SWEEP | BULLISH | 01/16/26 | $11.25 | $11.1 | $11.25 | $47.00 | $91.1K | 2.8K | 395 |
| FCX | CALL | SWEEP | BEARISH | 01/16/26 | $11.2 | $11.1 | $11.1 | $47.00 | $61.0K | 2.8K | 0 |
| FCX | CALL | SWEEP | BULLISH | 01/16/26 | $11.25 | $11.1 | $11.25 | $47.00 | $55.1K | 2.8K | 290 |
| FCX | CALL | TRADE | BEARISH | 01/17/25 | $8.35 | $8.3 | $8.3 | $45.00 | $49.8K | 10.2K | 2 |
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.
After a thorough review of the options trading surrounding Freeport-McMoRan, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Freeport-McMoRan Standing Right Now?
- Currently trading with a volume of 2,210,460, the FCX's price is down by -0.9%, now at $49.43.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 22 days.
Professional Analyst Ratings for Freeport-McMoRan
2 market experts have recently issued ratings for this stock, with a consensus target price of $61.0.
- An analyst from Scotiabank persists with their Sector Outperform rating on Freeport-McMoRan, maintaining a target price of $60.
- An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $62.
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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