Spotlight on Freeport-McMoRan: Analyzing the Surge in Options Activity

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

Looking at options history for Freeport-McMoRan FCX we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 77% of the investors opened trades with bullish expectations and 22% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $431,900 and 2, calls, for a total amount of $346,000.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $33.0 to $50.0 for Freeport-McMoRan during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Freeport-McMoRan options trades today is 1444.67 with a total volume of 6,419.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Freeport-McMoRan's big money trades within a strike price range of $33.0 to $50.0 over the last 30 days.

Freeport-McMoRan Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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 trading volume of 6,534,411, the price of FCX is down by -1.21%, reaching $38.39.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 57 days from now.

What The Experts Say On Freeport-McMoRan

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $55.0.

• An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $55.

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