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 13 uncommon options trades for Freeport-McMoRan.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $227,586, and 7 are calls, for a total amount of $338,635.
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 $33.0 to $50.0 for Freeport-McMoRan over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $33.0 to $50.0 in the last 30 days.
Freeport-McMoRan Call and Put Volume: 30-Day Overview
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 | BULLISH | 03/21/25 | $4.35 | $4.3 | $4.35 | $33.00 | $99.6K | 14 | 17 |
| FCX | CALL | SWEEP | BULLISH | 05/16/25 | $1.8 | $1.75 | $1.8 | $40.00 | $72.0K | 4.0K | 404 |
| FCX | PUT | SWEEP | BEARISH | 03/21/25 | $2.58 | $2.55 | $2.58 | $38.00 | $54.9K | 1.0K | 539 |
| FCX | PUT | TRADE | BEARISH | 04/17/25 | $7.55 | $7.45 | $7.51 | $44.00 | $46.5K | 33 | 62 |
| FCX | PUT | SWEEP | BEARISH | 02/21/25 | $4.75 | $4.75 | $4.75 | $41.00 | $45.1K | 873 | 95 |
About Freeport-McMoRan
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. We expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.
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
- Currently trading with a volume of 5,522,806, the FCX's price is up by 2.15%, now at $36.61.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 83 days.
Expert Opinions on Freeport-McMoRan
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $45.4.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Bernstein downgraded its action to Market Perform with a price target of $46. * Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Perform rating on Freeport-McMoRan with a target price of $48. * Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Perform rating on Freeport-McMoRan with a target price of $45. * An analyst from Jefferies downgraded its action to Hold with a price target of $40. * An analyst from Jefferies has decided to maintain their Buy rating on Freeport-McMoRan, which currently sits at a price target of $48.
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.
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