Whales with a lot of money to spend have taken a noticeably bearish stance on Freeport-McMoRan.
Looking at options history for Freeport-McMoRan FCX we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $77,141 and 11, calls, for a total amount of $767,396.
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 $42.5 for Freeport-McMoRan, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $30.0 to $42.5 in the last 30 days.
Freeport-McMoRan Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | NEUTRAL | 05/17/24 | $42.00 | $302.0K | 15.4K | 1.0K |
| FCX | CALL | SWEEP | BEARISH | 03/15/24 | $40.00 | $81.4K | 19.3K | 59 |
| FCX | CALL | SWEEP | BULLISH | 03/15/24 | $40.00 | $47.6K | 19.3K | 1.1K |
| FCX | CALL | SWEEP | BEARISH | 03/15/24 | $40.00 | $47.2K | 19.3K | 3.8K |
| FCX | CALL | SWEEP | BEARISH | 03/15/24 | $40.00 | $47.0K | 19.3K | 1.1K |
About Freeport-McMoRan
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
Having examined the options trading patterns of Freeport-McMoRan, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Freeport-McMoRan's Current Market Status
- Currently trading with a volume of 193,870, the FCX's price is up by 3.0%, now at $41.57.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 37 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Freeport-McMoRan with Benzinga Pro for real-time alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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