Brian Stutland's Freeport-McMoRan (FCX) Trade

Brian Stutland said on CNBC's Fast Money that he is watching Freeport-McMoRan Copper & Gold Inc. FCX. He said that Freeport-McMoRan (FCX) has a price target at around $80 this year, and he wants to give himself an exit point to the stock. He thinks that it would be wise to sell the January 80 call for $4.75. With this trade he is saying that if FCX gets above $80, he is willing to sell this stock. Freeport-McMoRan Copper & Gold Inc. (FCX) gained 0.51% today, and closed at $70.74.