Smart Money Is Betting Big In FCX Options

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 15 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 53% leaning bullish and 46% bearish. Among these notable options, 7 are puts, totaling $796,565, and 8 are calls, amounting to $376,063.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $60.0 for Freeport-McMoRan over the recent three months.

Volume & Open Interest Development

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 $60.0 in the last 30 days.

Freeport-McMoRan Option Activity Analysis: Last 30 Days

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
FCX PUT SWEEP BULLISH 01/17/25 $2.18 $2.0 $2.0 $45.00 $196.2K 14.8K 1.0K
FCX PUT SWEEP BULLISH 02/21/25 $12.25 $12.15 $12.15 $60.00 $191.9K 118 158
FCX PUT SWEEP BULLISH 05/16/25 $12.7 $12.6 $12.6 $60.00 $183.9K 0 147
FCX PUT SWEEP BULLISH 03/21/25 $12.15 $12.05 $12.05 $60.00 $100.0K 256 98
FCX CALL SWEEP BEARISH 02/21/25 $6.65 $6.55 $6.55 $45.00 $77.3K 1.3K 119

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.

Current Position of Freeport-McMoRan

  • With a volume of 4,657,644, the price of FCX is down -3.29% at $48.38.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 8 days.

Expert Opinions on Freeport-McMoRan

In the last month, 4 experts released ratings on this stock with an average target price of $54.5.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $52. * An analyst from Scotiabank has decided to maintain their Sector Perform rating on Freeport-McMoRan, which currently sits at a price target of $53. * An analyst from Raymond James persists with their Outperform rating on Freeport-McMoRan, maintaining a target price 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.

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.

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