Investors with a lot of money to spend have taken a bullish stance on Freeport-McMoRan (NYSE:FCX).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FCX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 48 uncommon options trades for Freeport-McMoRan.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 35%, bearish.
Out of all of the special options we uncovered, 12 are puts, for a total amount of $860,398, and 36 are calls, for a total amount of $3,926,932.
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 $33.0 to $55.0 for Freeport-McMoRan over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 11157.0, with a total volume reaching 337,160.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $33.0 to $55.0, throughout the last 30 days.
Freeport-McMoRan Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BULLISH | 05/16/25 | $0.55 | $0.53 | $0.6 | $50.00 | $1.3M | 87.2K | 52.3K |
| FCX | CALL | TRADE | BEARISH | 05/16/25 | $1.27 | $1.22 | $1.22 | $46.00 | $298.1K | 1.2K | 2.5K |
| FCX | CALL | SWEEP | BEARISH | 06/20/25 | $0.96 | $0.81 | $0.83 | $50.00 | $215.5K | 13.2K | 2.6K |
| FCX | CALL | SWEEP | BEARISH | 09/19/25 | $5.85 | $5.75 | $5.75 | $40.00 | $189.7K | 3.1K | 385 |
| FCX | PUT | TRADE | BULLISH | 05/16/25 | $1.2 | $1.16 | $1.16 | $39.00 | $173.9K | 4.4K | 2.1K |
About Freeport-McMoRan
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at end December 2024. we expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.
Present Market Standing of Freeport-McMoRan
- Trading volume stands at 11,697,337, with FCX's price up by 3.88%, positioned at $41.81.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 29 days.
Professional Analyst Ratings for Freeport-McMoRan
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from JP Morgan upgraded its action to Overweight with a price target of $52. * An analyst from Jefferies upgraded its action to Buy with a price target of $48. * An analyst from Deutsche Bank has elevated its stance to Buy, setting a new price target at $47.
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.
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