Financial giants have made a conspicuous bullish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan FCX revealed 10 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, 5 were puts, with a value of $449,145, and 5 were calls, valued at $673,340.
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 $35.0 and $65.0 for Freeport-McMoRan, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Freeport-McMoRan options trades today is 3113.86 with a total volume of 6,939.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Freeport-McMoRan's big money trades within a strike price range of $35.0 to $65.0 over 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 | CALL | TRADE | BULLISH | 01/19/24 | $38.00 | $520.0K | 6.4K | 5.1K |
| FCX | PUT | TRADE | BULLISH | 01/19/24 | $65.00 | $233.7K | 644 | 82 |
| FCX | PUT | SWEEP | BULLISH | 01/17/25 | $37.00 | $70.7K | 5.9K | 350 |
| FCX | PUT | SWEEP | BEARISH | 01/17/25 | $37.00 | $64.8K | 5.9K | 379 |
| FCX | CALL | SWEEP | BULLISH | 02/16/24 | $35.00 | $59.6K | 3.4K | 179 |
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.
Current Position of Freeport-McMoRan
- Trading volume stands at 6,212,174, with FCX's price up by 0.9%, positioned at $36.9.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 49 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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