Financial giants have made a conspicuous bearish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan FCX revealed 11 unusual trades.
Delving into the details, we found 18% of traders were bullish, while 81% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $173,679, and 8 were calls, valued at $331,991.
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 $33.0 and $42.0 for Freeport-McMoRan, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 2131.88, with a total volume reaching 3,675.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $33.0 to $42.0, throughout the last 30 days.
Freeport-McMoRan Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BEARISH | 08/16/24 | $34.00 | $99.0K | 1 | 150 |
| FCX | PUT | SWEEP | NEUTRAL | 05/17/24 | $42.00 | $83.1K | 3.9K | 58 |
| FCX | PUT | SWEEP | BEARISH | 01/17/25 | $35.00 | $64.0K | 8.7K | 0 |
| FCX | CALL | TRADE | NEUTRAL | 03/15/24 | $40.00 | $54.8K | 805 | 1.3K |
| FCX | CALL | SWEEP | BEARISH | 01/19/24 | $37.50 | $33.7K | 3 | 68 |
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.
After a thorough review of the options trading surrounding Freeport-McMoRan, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Freeport-McMoRan
- Currently trading with a volume of 1,180,332, the FCX's price is down by -3.01%, now at $37.73.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 7 days.
Expert Opinions on Freeport-McMoRan
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $43.0.
- An analyst from Raymond James persists with their Outperform rating on Freeport-McMoRan, maintaining a target price of $43.
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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