Behind the Scenes of Freeport-McMoRan's Latest Options Trends

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 28 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 64% leaning bullish and 35% bearish. Among these notable options, 6 are puts, totaling $677,815, and 22 are calls, amounting to $1,333,065.

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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 $33.0 to $60.0 for Freeport-McMoRan during the past quarter.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $33.0 to $60.0 in the last 30 days.

Freeport-McMoRan Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Present Market Standing of Freeport-McMoRan

• Currently trading with a volume of 7,235,549, the FCX's price is up by 3.09%, now at $39.32.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 43 days.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Freeport-McMoRan options trades with real-time alerts from Benzinga Pro.