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

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 11 trades.

If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 36% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $126,547 and 8, calls, for a total amount of $400,815.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $36.0 to $60.0 for Freeport-McMoRan over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Freeport-McMoRan options trades today is 4349.0 with a total volume of 3,771.00.

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 $36.0 to $60.0 over the last 30 days.

Freeport-McMoRan 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
FCX CALL SWEEP BULLISH 09/20/24 $5.0 $4.9 $4.97 $50.00 $74.4K 6.5K 0
FCX CALL SWEEP BULLISH 05/10/24 $1.42 $1.37 $1.42 $49.50 $68.1K 1.3K 596
FCX PUT SWEEP BULLISH 06/20/25 $12.3 $12.1 $12.1 $60.00 $67.7K 17 56
FCX CALL SWEEP BULLISH 05/24/24 $1.04 $0.94 $1.04 $52.00 $52.0K 246 2.5K
FCX CALL SWEEP BULLISH 05/24/24 $0.98 $0.97 $0.98 $52.00 $49.0K 246 505

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.

Current Position of Freeport-McMoRan

  • With a trading volume of 3,338,407, the price of FCX is up by 1.82%, reaching $50.87.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 70 days from now.

What The Experts Say On Freeport-McMoRan

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $52.8.

  • Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Freeport-McMoRan, targeting a price of $53.
  • An analyst from JP Morgan persists with their Neutral rating on Freeport-McMoRan, maintaining a target price of $52.
  • Consistent in their evaluation, an analyst from Argus Research keeps a Buy rating on Freeport-McMoRan with a target price of $54.
  • An analyst from Raymond James has decided to maintain their Outperform rating on Freeport-McMoRan, which currently sits at a price target of $54.
  • An analyst from JP Morgan has decided to maintain their Neutral rating on Freeport-McMoRan, which currently sits at a price target of $51.

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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!