Financial giants have made a conspicuous bearish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan FCX revealed 16 unusual trades.
Delving into the details, we found 31% of traders were bullish, while 56% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $57,912, and 14 were calls, valued at $1,995,172.
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 $33.0 and $50.0 for Freeport-McMoRan, spanning the last 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 $33.0 to $50.0 in the last 30 days.
Freeport-McMoRan Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | TRADE | BEARISH | 01/17/25 | $1.6 | $1.55 | $1.55 | $50.00 | $520.3K | 35.4K | 5.1K |
| FCX | CALL | TRADE | BULLISH | 01/17/25 | $1.54 | $1.43 | $1.5 | $50.00 | $506.2K | 35.4K | 10.7K |
| FCX | CALL | SWEEP | NEUTRAL | 01/17/25 | $1.54 | $1.51 | $1.51 | $50.00 | $204.1K | 35.4K | 5.1K |
| FCX | CALL | SWEEP | BULLISH | 01/17/25 | $1.49 | $1.48 | $1.49 | $50.00 | $139.3K | 35.4K | 7.4K |
| FCX | CALL | SWEEP | BEARISH | 01/17/25 | $1.45 | $1.43 | $1.43 | $50.00 | $98.6K | 35.4K | 6.4K |
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.
Freeport-McMoRan's Current Market Status
- With a volume of 3,545,458, the price of FCX is down -2.09% at $46.01.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 77 days.
Professional Analyst Ratings for Freeport-McMoRan
4 market experts have recently issued ratings for this stock, with a consensus target price of $54.25.
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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. * Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Freeport-McMoRan with a target price of $57. * An analyst from Scotiabank has decided to maintain their Sector Perform rating on Freeport-McMoRan, which currently sits at a price target of $53. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for Freeport-McMoRan, targeting a price of $52. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Freeport-McMoRan, targeting a price 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.
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