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 22 trades.
If we consider the specifics of each trade, it is accurate to state that 59% of the investors opened trades with bullish expectations and 31% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $372,712 and 12, calls, for a total amount of $666,597.
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 $20.0 and $50.0 for Freeport-McMoRan, spanning the last three months.
Analyzing 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 $20.0 to $50.0 in the last 30 days.
Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BULLISH | 01/17/25 | $25.8 | $25.65 | $25.8 | $20.00 | $126.4K | 289 | 70 |
| FCX | CALL | TRADE | NEUTRAL | 12/18/26 | $10.15 | $9.75 | $9.95 | $50.00 | $99.4K | 2.9K | 101 |
| FCX | CALL | SWEEP | BULLISH | 11/15/24 | $7.3 | $7.25 | $7.3 | $40.00 | $94.0K | 668 | 128 |
| FCX | CALL | TRADE | BULLISH | 01/17/25 | $25.8 | $25.6 | $25.8 | $20.00 | $54.1K | 289 | 21 |
| FCX | PUT | SWEEP | BULLISH | 08/09/24 | $0.5 | $0.37 | $0.42 | $44.00 | $51.0K | 640 | 1.2K |
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.
Where Is Freeport-McMoRan Standing Right Now?
- Currently trading with a volume of 5,679,711, the FCX's price is up by 5.29%, now at $46.17.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 78 days.
Expert Opinions on Freeport-McMoRan
In the last month, 3 experts released ratings on this stock with an average target price of $57.0.
- Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Freeport-McMoRan with a target price of $53.
- Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on Freeport-McMoRan with a target price of $58.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $60.
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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