A financial giant has made a conspicuous bullish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan FCX revealed 12 unusual trades. Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $1,617,709, and 3 were calls, valued at $78,211.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $33.0 to $50.0 for Freeport-McMoRan over the recent three months.
Insights into 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 $33.0 to $50.0 in the last 30 days.
Freeport-McMoRan Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | PUT | SWEEP | BEARISH | 11/17/23 | $37.00 | $569.9K | 15.1K | 5.1K |
| FCX | PUT | SWEEP | BEARISH | 01/19/24 | $42.00 | $439.4K | 4.7K | 750 |
| FCX | PUT | SWEEP | BEARISH | 11/17/23 | $37.00 | $336.3K | 15.1K | 17 |
| FCX | PUT | SWEEP | BULLISH | 12/15/23 | $39.00 | $95.0K | 420 | 251 |
| FCX | PUT | SWEEP | BEARISH | 02/16/24 | $33.00 | $45.0K | 5.2K | 0 |
Freeport-McMoRan's Current Market Status
- With a volume of 5,800,992, the price of FCX is up 0.83% at $35.44.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 79 days.
What Analysts Are Saying About Freeport-McMoRan:
- Reflecting concerns, JP Morgan lowers its rating to Neutral with a new price target of $42.
- BMO Capital has decided to maintain their Outperform rating on Freeport-McMoRan, which currently sits at a price target of $45.
- Maintaining their stance, Morgan Stanley continues to hold a Equal-Weight rating for Freeport-McMoRan, targeting a price of $41.
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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