Freeport-McMoRan Options Trading: A Deep Dive into Market Sentiment

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 9 trades.

If we consider the specifics of each trade, it is accurate to state that 55% of the investors opened trades with bullish expectations and 22% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $63,500 and 7, calls, for a total amount of $410,900.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $45.0 for Freeport-McMoRan, spanning the last three months.

Analyzing Volume & Open Interest

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 $30.0 to $45.0 in the last 30 days.

Freeport-McMoRan Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

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

• Currently trading with a volume of 6,003,503, the FCX's price is down by -2.18%, now at $37.62.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 70 days.

What The Experts Say On Freeport-McMoRan

In the last month, 4 experts released ratings on this stock with an average target price of $45.75.

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. * An analyst from Jefferies downgraded its action to Hold with a price target of $40. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Freeport-McMoRan, targeting a price of $48. * An analyst from BMO Capital has decided to maintain their Outperform rating on Freeport-McMoRan, which currently sits at a price target of $50. * An analyst from Scotiabank has decided to maintain their Sector Perform rating on Freeport-McMoRan, which currently sits at a price target of $45.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Freeport-McMoRan options trades with real-time alerts from Benzinga Pro.