High-rolling investors have positioned themselves bullish on Freeport-McMoRan FCX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in FCX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Freeport-McMoRan. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $49,775, and 9 calls, totaling $722,085.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $44.0 to $50.0 for Freeport-McMoRan during the past quarter.
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 $44.0 to $50.0, over the past month.
Freeport-McMoRan Option Volume And Open Interest Over 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 | CALL | SWEEP | BEARISH | 03/21/25 | $2.8 | $2.68 | $2.75 | $50.00 | $138.0K | 2.8K | 521 |
| FCX | CALL | SWEEP | BULLISH | 02/21/25 | $4.45 | $4.35 | $4.45 | $45.00 | $129.0K | 1.4K | 294 |
| FCX | CALL | SWEEP | BULLISH | 05/16/25 | $4.65 | $4.55 | $4.6 | $48.00 | $120.9K | 231 | 343 |
| FCX | CALL | TRADE | BULLISH | 12/20/24 | $3.6 | $3.55 | $3.6 | $44.00 | $105.1K | 648 | 307 |
| FCX | CALL | SWEEP | BEARISH | 05/16/25 | $4.65 | $4.6 | $4.6 | $48.00 | $78.0K | 231 | 527 |
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 volume of 2,903,867, the price of FCX is down -4.6% at $46.35.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 75 days.
Professional Analyst Ratings for Freeport-McMoRan
3 market experts have recently issued ratings for this stock, with a consensus target price of $54.666666666666664.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Freeport-McMoRan, targeting a price of $55. * An analyst from Raymond James has decided to maintain their Outperform rating on Freeport-McMoRan, which currently sits at a price target of $57. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for Freeport-McMoRan, targeting a price of $52.
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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