Decoding Freeport-McMoRan's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Freeport-McMoRan FCX.

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FCX, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Freeport-McMoRan.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $101,601, and 7, calls, for a total amount of $853,640.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $45.0 for Freeport-McMoRan during the past quarter.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Freeport-McMoRan stands at 12181.14, with a total volume reaching 6,842.00. 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 $20.0 to $45.0, throughout the last 30 days.

Freeport-McMoRan Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Freeport-McMoRan

Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. we expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.

Having examined the options trading patterns of Freeport-McMoRan, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Freeport-McMoRan

• Currently trading with a volume of 6,729,244, the FCX's price is up by 1.23%, now at $38.63.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 47 days.

What The Experts Say On Freeport-McMoRan

2 market experts have recently issued ratings for this stock, with a consensus target price of $47.5.

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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. * An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $47. * An analyst from Jefferies upgraded its action to Buy with a price target of $48.

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.