Spotlight on Freeport-McMoRan: Analyzing the Surge in Options Activity

Freeport-McMoRan, Inc. +0.91%

Freeport-McMoRan, Inc.




Financial giants have made a conspicuous bullish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan (NYSE:FCX) revealed 18 unusual trades.

Delving into the details, we found 72% of traders were bullish, while 27% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $178,501, and 14 were calls, valued at $628,649.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $38.0 to $55.0 for Freeport-McMoRan over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Freeport-McMoRan's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Freeport-McMoRan's significant trades, within a strike price range of $38.0 to $55.0, over the past month.

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

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
FCX CALL SWEEP BULLISH 05/17/24 $50.00 $72.5K 29.6K 3.5K
FCX CALL TRADE BEARISH 05/17/24 $50.00 $72.2K 29.6K 6.0K
FCX CALL SWEEP BULLISH 05/17/24 $50.00 $63.3K 29.6K 2.9K
FCX PUT SWEEP BULLISH 04/05/24 $46.00 $59.7K 267 39
FCX CALL TRADE BULLISH 06/20/25 $55.00 $54.0K 2.0K 100

About Freeport-McMoRan

Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.

After a thorough review of the options trading surrounding Freeport-McMoRan, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Freeport-McMoRan

  • With a volume of 4,846,962, the price of FCX is up 0.65% at $46.18.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 22 days.

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.

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