Whales with a lot of money to spend have taken a noticeably bearish 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 18% of the investors opened trades with bullish expectations and 81% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $74,298 and 14, calls, for a total amount of $721,466.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $33.0 to $47.0 for Freeport-McMoRan during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Freeport-McMoRan's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Freeport-McMoRan's substantial trades, within a strike price spectrum from $33.0 to $47.0 over the preceding 30 days.
Freeport-McMoRan 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BEARISH | 06/21/24 | $35.00 | $124.6K | 2.0K | 155 |
| FCX | CALL | SWEEP | BEARISH | 02/16/24 | $45.00 | $91.1K | 6.6K | 2.9K |
| FCX | CALL | TRADE | NEUTRAL | 01/17/25 | $35.00 | $73.8K | 2.8K | 71 |
| FCX | CALL | SWEEP | BEARISH | 08/16/24 | $38.00 | $67.8K | 18 | 183 |
| FCX | CALL | SWEEP | BEARISH | 05/17/24 | $40.00 | $56.7K | 2.0K | 1 |
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.
Following our analysis of the options activities associated with Freeport-McMoRan, we pivot to a closer look at the company's own performance.
Where Is Freeport-McMoRan Standing Right Now?
- Trading volume stands at 5,207,727, with FCX's price up by 0.41%, positioned at $41.2.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 12 days.
Expert Opinions on Freeport-McMoRan
1 market experts have recently issued ratings for this stock, with a consensus target price of $43.0.
- Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Freeport-McMoRan, targeting a price of $43.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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