Freeport-McMoRan Whale Trades For August 17

Freeport-McMoRan Whale Trades For August 17

 

A whale with a lot of money to spend has taken a noticeably bullish stance on Freeport-McMoRan.

Looking at options history for Freeport-McMoRan FCX we detected 15 strange trades.

If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $196,669 and 9, calls, for a total amount of $492,686.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $43.0 for Freeport-McMoRan over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Freeport-McMoRan's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Freeport-McMoRan's whale activity within a strike price range from $20.0 to $43.0 in the last 30 days.

Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
FCX CALL TRADE BULLISH 09/16/22 $27.00 $207.0K 2.4K 506
FCX CALL TRADE BULLISH 01/19/24 $20.00 $63.0K 681 11
FCX CALL SWEEP BEARISH 09/16/22 $30.00 $43.0K 5.7K 484
FCX PUT TRADE BULLISH 10/21/22 $43.00 $38.7K 2.1K 30
FCX PUT TRADE BULLISH 06/16/23 $25.00 $35.2K 11.3K 129

Where Is Freeport-McMoRan Standing Right Now?

  • With a volume of 9,189,071, the price of FCX is down -3.73% at $30.22.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 64 days.

What The Experts Say On Freeport-McMoRan:

  • Deutsche Bank has decided to maintain their Hold rating on Freeport-McMoRan, which currently sits at a price target of $35.
  • RBC Capital has decided to maintain their Sector Perform rating on Freeport-McMoRan, which currently sits at a price target of $35.
  • Barclays has decided to maintain their Underweight rating on Freeport-McMoRan, which currently sits at a price target of $24.

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.

Posted In: BZI-UOAOptionsMarkets