Financial giants have made a conspicuous bearish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan FCX revealed 26 unusual trades.
Delving into the details, we found 42% of traders were bullish, while 57% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $863,328, and 11 were calls, valued at $512,762.
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Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $65.0 for Freeport-McMoRan, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Freeport-McMoRan options trades today is 4815.07 with a total volume of 25,173.00.
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 $40.0 to $65.0 over the last 30 days.
Freeport-McMoRan 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | PUT | TRADE | BULLISH | 09/20/24 | $1.1 | $1.03 | $1.04 | $42.00 | $172.0K | 4.2K | 82 |
| FCX | PUT | SWEEP | BEARISH | 01/17/25 | $14.8 | $14.75 | $14.8 | $60.00 | $127.2K | 2.3K | 0 |
| FCX | PUT | SWEEP | BEARISH | 11/15/24 | $9.85 | $9.75 | $9.85 | $55.00 | $94.5K | 734 | 0 |
| FCX | CALL | SWEEP | BULLISH | 08/16/24 | $0.58 | $0.57 | $0.58 | $50.00 | $89.3K | 18.6K | 26 |
| FCX | CALL | TRADE | BEARISH | 01/17/25 | $0.7 | $0.64 | $0.66 | $65.00 | $66.0K | 29.5K | 1 |
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.
Present Market Standing of Freeport-McMoRan
- With a volume of 4,836,366, the price of FCX is down -0.03% at $45.88.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 1 days.
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.
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