Financial giants have made a conspicuous bearish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan FCX revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $190,627, and 6 were calls, valued at $191,975.
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What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $60.0 for Freeport-McMoRan, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Freeport-McMoRan's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Freeport-McMoRan's substantial trades, within a strike price spectrum from $45.0 to $60.0 over the preceding 30 days.
Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | PUT | SWEEP | BEARISH | 07/19/24 | $0.51 | $0.48 | $0.51 | $50.00 | $102.0K | 8.8K | 89 |
| FCX | PUT | SWEEP | BEARISH | 01/17/25 | $2.98 | $2.84 | $2.96 | $47.00 | $58.6K | 4.5K | 854 |
| FCX | CALL | SWEEP | BULLISH | 12/18/26 | $10.1 | $10.05 | $10.1 | $60.00 | $40.4K | 43 | 0 |
| FCX | CALL | SWEEP | BEARISH | 12/19/25 | $13.6 | $13.4 | $13.4 | $45.00 | $36.1K | 562 | 0 |
| FCX | CALL | TRADE | BEARISH | 01/17/25 | $6.6 | $6.55 | $6.55 | $50.00 | $36.0K | 17.3K | 29 |
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.
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 4,848,182, the FCX's price is up by 0.04%, now at $51.15.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 14 days.
What The Experts Say On Freeport-McMoRan
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $62.0.
- An analyst from Morgan Stanley upgraded its action to Overweight with a price target of $62.
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.
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