Whales with a lot of money to spend have taken a noticeably bullish stance on Freeport-McMoRan.
Looking at options history for Freeport-McMoRan FCX we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 56% of the investors opened trades with bullish expectations and 43% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $142,750 and 14, calls, for a total amount of $1,058,185.
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 $32.0 and $44.0 for Freeport-McMoRan, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $32.0 to $44.0 in the last 30 days.
Freeport-McMoRan Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | CALL | TRADE | NEUTRAL | 01/17/25 | $32.00 | $234.6K | 3.8K | 401 |
| FCX | CALL | TRADE | BULLISH | 01/17/25 | $32.00 | $230.0K | 3.8K | 1 |
| FCX | PUT | TRADE | BEARISH | 06/21/24 | $38.00 | $84.3K | 6.9K | 0 |
| FCX | CALL | SWEEP | BULLISH | 02/16/24 | $44.00 | $80.3K | 46.0K | 2.6K |
| FCX | CALL | SWEEP | BULLISH | 03/15/24 | $42.00 | $71.4K | 1.1K | 8 |
About Freeport-McMoRan
Freeport-McMoRan Inc is an international mining company. It operates geographically diverse assets with proven and probable mineral reserves of copper, gold, and molybdenum. The company's portfolio of assets includes the Grasberg minerals district in Indonesia; and mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. 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
Current Position of Freeport-McMoRan
- With a trading volume of 1,704,738, the price of FCX is down by -2.87%, reaching $40.88.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 21 days from now.
Expert Opinions on Freeport-McMoRan
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $40.5.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Freeport-McMoRan with a target price of $41.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Freeport-McMoRan, maintaining a target price of $40.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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