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 11 trades.
If we consider the specifics of each trade, it is accurate to state that 63% of the investors opened trades with bullish expectations and 27% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $585,994 and 3, calls, for a total amount of $252,981.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $42.0 and $60.0 for Freeport-McMoRan, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Freeport-McMoRan options trades today is 3632.83 with a total volume of 6,381.00.
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 $42.0 to $60.0 over the last 30 days.
Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days
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 | 03/21/25 | $17.25 | $17.15 | $17.15 | $60.00 | $332.7K | 15 | 195 |
| FCX | CALL | TRADE | BEARISH | 01/17/25 | $4.4 | $4.35 | $4.35 | $42.00 | $173.9K | 6.8K | 416 |
| FCX | PUT | SWEEP | BULLISH | 09/19/25 | $13.7 | $13.6 | $13.6 | $55.00 | $66.6K | 0 | 51 |
| FCX | CALL | SWEEP | BEARISH | 09/20/24 | $0.39 | $0.37 | $0.37 | $44.00 | $43.9K | 4.6K | 1.7K |
| FCX | CALL | SWEEP | BEARISH | 09/20/24 | $1.55 | $1.39 | $1.41 | $42.50 | $35.0K | 2.4K | 250 |
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.
Freeport-McMoRan's Current Market Status
- Trading volume stands at 4,123,083, with FCX's price up by 1.55%, positioned at $43.32.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 31 days.
Expert Opinions on Freeport-McMoRan
2 market experts have recently issued ratings for this stock, with a consensus target price of $53.5.
- An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Freeport-McMoRan, which currently sits at a price target of $52.
- Showing optimism, an analyst from UBS upgrades its rating to Buy with a revised price target of $55.
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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