Deep-pocketed investors have adopted a bullish approach towards Freeport-McMoRan FCX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FCX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Freeport-McMoRan. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 33% bearish. Among these notable options, 6 are puts, totaling $293,345, and 3 are calls, amounting to $184,911.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $42.0 to $50.0 for Freeport-McMoRan over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 5719.62, with a total volume reaching 4,684.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $42.0 to $50.0, throughout the last 30 days.
Freeport-McMoRan Option Activity Analysis: 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 | TRADE | BEARISH | 06/20/25 | $6.0 | $5.9 | $5.88 | $50.00 | $117.0K | 5.4K | 200 |
| FCX | PUT | SWEEP | BEARISH | 11/15/24 | $2.21 | $2.04 | $2.16 | $48.00 | $64.1K | 11.3K | 291 |
| FCX | PUT | SWEEP | BULLISH | 11/15/24 | $3.3 | $3.2 | $3.22 | $50.00 | $64.0K | 9.0K | 134 |
| FCX | PUT | TRADE | BULLISH | 08/15/25 | $5.0 | $4.9 | $4.9 | $47.00 | $48.0K | 13 | 99 |
| FCX | PUT | SWEEP | BEARISH | 06/20/25 | $2.53 | $2.34 | $2.53 | $42.00 | $43.2K | 4.0K | 250 |
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.
Following our analysis of the options activities associated with Freeport-McMoRan, we pivot to a closer look at the company's own performance.
Where Is Freeport-McMoRan Standing Right Now?
- With a volume of 904,214, the price of FCX is up 0.97% at $49.34.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 12 days.
Expert Opinions on Freeport-McMoRan
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $54.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for Freeport-McMoRan, targeting a price of $53. * An analyst from Scotiabank has revised its rating downward to Sector Perform, adjusting the price target to $52. * An analyst from Raymond James has decided to maintain their Outperform rating on Freeport-McMoRan, which currently sits at a price target of $55. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Freeport-McMoRan, which currently sits at a price target of $58.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
