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 10 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $246,497 and 2, calls, for a total amount of $206,653.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $50.0 for Freeport-McMoRan during the past quarter.
Volume & Open Interest Trends
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 $35.0 to $50.0 in the last 30 days.
Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | TRADE | BULLISH | 01/17/25 | $2.82 | $2.72 | $2.8 | $45.00 | $140.0K | 12.9K | 697 |
| FCX | CALL | SWEEP | BEARISH | 10/18/24 | $5.0 | $4.9 | $4.9 | $38.00 | $66.6K | 156 | 181 |
| FCX | PUT | SWEEP | BEARISH | 02/21/25 | $1.5 | $1.38 | $1.4 | $35.00 | $42.0K | 283 | 300 |
| FCX | PUT | SWEEP | BEARISH | 06/20/25 | $8.0 | $7.9 | $8.0 | $47.00 | $39.2K | 3.5K | 55 |
| FCX | PUT | TRADE | BULLISH | 01/17/25 | $8.9 | $8.85 | $8.85 | $50.00 | $30.0K | 7.1K | 52 |
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.
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.
Where Is Freeport-McMoRan Standing Right Now?
- Trading volume stands at 5,286,713, with FCX's price up by 1.43%, positioned at $41.95.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 43 days.
Professional Analyst Ratings for Freeport-McMoRan
2 market experts have recently issued ratings for this stock, with a consensus target price of $53.5.
- An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Freeport-McMoRan, which currently sits at a price target of $52.
- An analyst from UBS upgraded its action to Buy with a price target of $55.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Freeport-McMoRan, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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