On CNBC's "Options Action," Mike Khouw spoke about unusually high options activity in Freeport-McMoRan Inc FCX. It traded about three times its average daily call volume on Monday and the most active were the August and November expiry calls.
He noticed during the session that traders were selling to close the August $12 calls and buying to open the November $15 calls. They managed to take a credit of 40 cents with the trading structure, explained Khouw.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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!
Already a member?Sign in