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 29 trades.
If we consider the specifics of each trade, it is accurate to state that 51% of the investors opened trades with bullish expectations and 48% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $566,154 and 21, calls, for a total amount of $1,345,610.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $50.0 for Freeport-McMoRan over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Freeport-McMoRan's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Freeport-McMoRan's substantial trades, within a strike price spectrum from $25.0 to $50.0 over the preceding 30 days.
Freeport-McMoRan Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | PUT | SWEEP | BEARISH | 01/17/25 | $40.00 | $133.3K | 7.9K | 390 |
| FCX | CALL | TRADE | BEARISH | 01/19/24 | $34.00 | $132.3K | 2.2K | 4 |
| FCX | CALL | SWEEP | BULLISH | 03/15/24 | $42.00 | $108.4K | 0 | 429 |
| FCX | CALL | SWEEP | BULLISH | 12/22/23 | $37.50 | $105.6K | 696 | 0 |
| FCX | CALL | SWEEP | BEARISH | 05/17/24 | $40.00 | $103.7K | 2.4K | 3 |
About Freeport-McMoRan
Freeport-McMoRan Inc is an international mining company. It operates geographically diverse assets with proven and probable mineral reserves of copper, gold, and molybdenum. The company's portfolio of assets includes the Grasberg minerals district in Indonesia; and mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. 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.
Current Position of Freeport-McMoRan
- With a trading volume of 8,865,108, the price of FCX is up by 5.79%, reaching $41.46.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 41 days from now.
Expert Opinions on Freeport-McMoRan
2 market experts have recently issued ratings for this stock, with a consensus target price of $40.5.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Freeport-McMoRan with a target price of $41.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Freeport-McMoRan, maintaining a target price of $40.
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.
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