Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
Freeport-McMoRan Inc (NYSE: FCX) shares were trading higher by $0.25 (2 percent) at $10.44 in Friday's session. After a big day on Thursday in the frenzied buying of commodity-related stocks. the issue received another boost when Carl Icahn disclosed in Schedule 13D filing a stake in the company.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
After rallying on Thursday from $7.92 to $10.19, the issue traded up to $11.48 off the open before succumbing to profit-taking resulting in a pullback under $11. That level is just above the pair of highs from August 6 ($11.30) and August 7 ($11.25). So far, it has fallen to $10.31 before rebounding back to $10.50.
This is the second day in a row of heavier than average volume. On Thursday, it traded 10.8 million shares and has already traded 8.13 million shares today compared with its 50-day average of 7.18 million.