Investors with a lot of money to spend have taken a bearish stance on Freeport-McMoRan FCX.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FCX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 41 uncommon options trades for Freeport-McMoRan.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 48%, bearish.
Out of all of the special options we uncovered, 26 are puts, for a total amount of $1,830,036, and 15 are calls, for a total amount of $564,109.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $32.0 to $60.0 for Freeport-McMoRan over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Freeport-McMoRan options trades today is 2623.54 with a total volume of 22,587.00.
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 $32.0 to $60.0 over the last 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 | PUT | SWEEP | BEARISH | 01/17/25 | $10.55 | $10.45 | $10.55 | $50.00 | $276.3K | 7.0K | 20 |
| FCX | PUT | SWEEP | BEARISH | 03/21/25 | $19.6 | $19.25 | $19.35 | $60.00 | $236.0K | 16 | 8 |
| FCX | PUT | SWEEP | BEARISH | 02/21/25 | $4.1 | $3.8 | $4.1 | $39.00 | $186.1K | 11 | 454 |
| FCX | PUT | SWEEP | BEARISH | 11/15/24 | $6.0 | $5.9 | $6.0 | $44.00 | $163.8K | 1.0K | 275 |
| FCX | PUT | SWEEP | BULLISH | 06/20/25 | $2.71 | $2.59 | $2.59 | $33.00 | $79.2K | 6.7K | 981 |
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
- Trading volume stands at 25,923,122, with FCX's price down by -2.55%, positioned at $40.9.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 73 days.
Expert Opinions on Freeport-McMoRan
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $57.0.
- An analyst from Raymond James persists with their Outperform rating on Freeport-McMoRan, maintaining a target price of $53.
- An analyst from Scotiabank persists with their Sector Outperform rating on Freeport-McMoRan, maintaining a target price of $58.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $60.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
