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 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $79,728 and 8, calls, for a total amount of $304,372.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $51.0 for Freeport-McMoRan over the last 3 months.
Volume & Open Interest Trends
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 $40.0 to $51.0 over the preceding 30 days.
Freeport-McMoRan Option Volume And Open Interest Over 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 | SWEEP | BULLISH | 11/15/24 | $12.5 | $12.35 | $12.45 | $40.00 | $87.1K | 641 | 3 |
| FCX | PUT | SWEEP | BULLISH | 07/12/24 | $0.79 | $0.75 | $0.75 | $51.00 | $54.1K | 233 | 279 |
| FCX | CALL | SWEEP | BULLISH | 07/19/24 | $2.45 | $2.39 | $2.45 | $49.50 | $44.3K | 393 | 0 |
| FCX | CALL | SWEEP | BULLISH | 06/20/25 | $10.2 | $10.1 | $10.2 | $47.00 | $31.6K | 702 | 0 |
| FCX | CALL | SWEEP | BEARISH | 07/05/24 | $1.3 | $1.13 | $1.3 | $50.00 | $31.6K | 4.3K | 947 |
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.
Where Is Freeport-McMoRan Standing Right Now?
- Currently trading with a volume of 1,700,836, the FCX's price is up by 1.06%, now at $51.19.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 18 days.
Professional Analyst Ratings for Freeport-McMoRan
In the last month, 1 experts released ratings on this stock with an average target price of $62.0.
- Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $62.
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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