Market Overview

Dan Nathan Sees Unusual Options Activity In Freeport-McMoRan

Related FCX
Goldman Sachs Initiates On A Slew Of Metal and Mining Stocks
Jim Cramer Gives His Opinion On Corning, McDonald's And More
Goldman starts coverage on slew of metal stocks; Freeport gets Buy rating (Seeking Alpha)

On CNBC's "Options Action", Dan Nathan spoke about high call options activity in Freeport-McMoRan Inc (NYSE: FCX). He said that calls outnumbered puts 2 to 1 on a day when the stock reached its new 52-week high.

The largest trade in the name was the purchase of 5,000 contracts of the January 17.50 puts for 26 cents. The trade breaks even at $17.24 or 7.76 percent below the current market price. Nathan believes this trade is a short-term protection for a long stock position.

Posted-In: CNBC Dan Nathan Options ActionOptions Markets Media


Related Articles (FCX)

View Comments and Join the Discussion!